Rua Growth Fund is a venture fund based in Saudi Arabia and licensed by the Capital Market Authority. It was founded by Asool and Bakhit Investment and iMENA Group, and it invests from early stage to growth in fintech, online marketplaces and enterprise solutions. Lucidya is in its portfolio.
About Rua Growth Fund
The first fund targets a size of SAR 200 million, and Jada announced its investment in it in November 2023. Managing partner Turki Aljuaib leads it. It led Lucidya's $6 million round in January 2022 and took part in its $30 million Series B round in 2025.
For clarity
The fund size is a target (SAR 200 million), not an announced final close. The dollar value is approximate.
What it invests in
- Stages
- Seed, Series A, Growth
- Sectors
- Fintech, E-commerce, SaaS
- Fund size (Rua Growth Fund I (target SAR 200 million))
- $53.3M (2023) Source
- Among the fund’s investors
- Jada
From its portfolio
Team
- Turki AljoaibManaging Partner