The Riyad Taqnia Fund (RTF) is a closed venture capital fund established by Riyad Capital and Taqnia. It launched in 2016 at SAR 450 million and invests in technology companies. Its portfolio includes Foodics, Unifonic and TruKKer.
About Riyad Taqnia Fund (RTF)
A private closed venture investment fund managed by Riyad Capital, a subsidiary of Riyad Bank, with Taqnia, which is owned by the Public Investment Fund (PIF), acting as its technical adviser. Its term is 10 years, of which 5 years are for investing, and it focuses on information and communications technology, energy, sustainability and advanced materials in Saudi Arabia, the Gulf and beyond. Its announced portfolio has 11 companies, including Foodics, Unifonic and TruKKer.
A closed fund with a 10-year term and a 5-year investment period; announced in January 2016, so the period for new investments has likely ended. The Riyad Capital page gives the size as SAR 450 million, while Wamda reported SAR 500 million at launch. The fund's announced investment period was 2016 to 2021, so it may not be accepting new investments at present.
What it invests in
- Stages
- Series A
- Sectors
- Information and communications technology, Energy
- Fund size (Fund size is SAR 450 million (approximate conversion))
- $120M (2026) Source
- Among the fund’s investors
- Riyad Capital, TAQNIA
From its portfolio
Foodics
A cloud-based restaurant management system: POS, inventory, kitchen, orders, payments and financing on one platform.
- Stage
- Series C
- Raised
- $198M
- Founded
- 2014
- City
- Riyadh
TruKKer
A digital platform for trucking freight that connects companies with truck owners in the Gulf and the region
- Stage
- Series C
- Raised
- $170.4M
- Founded
- 2016
- City
- Riyadh
Unifonic
A Saudi platform for companies to reach their customers through messages, WhatsApp, calls, verification codes and AI agents
- Stage
- Series B
- Raised
- $146M
- Founded
- 2006
- City
- Riyadh