What are some of the best practices of finding local investors? Launching in Saudi Arabia.

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February 21, 2024

by a searcher from The University of Chicago - Booth School of Business in Riyadh Saudi Arabia

Looking to launch the first traditional search fund in Saudi Arabia and seeking local investors. Aside from warm introductions and reaching out to investment funds, any tips/strategies on uncovering potential investors?

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Reply by a searcher
from INSEAD in Dubai - United Arab Emirates
A person will invest in your search on the basis of 3 things primarily - how well they know you, how well they know the KSA market, and how well they know the SF model.

You could try focusing your investor outreach on local investors that are alumni of top tier US or European MBA programs, as most of them teach an ETA course. This increases the likelihood that they are at least somewhat familiar with the model.

I really struggled to bring onboard local investors (that I had no prior relationship with) that were not familiar with the model, for my UAE search fund.
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Reply by a searcher
from The University of Chicago in Riyadh Saudi Arabia
It seems like I’m only able to scratch the surface of local investors with my network. I really like the idea of finding investors through events related to funding/supporting SMEs. I also agree with Edmond’s point regarding alumni of top MBA schools. This approach should help a lot. My fundraising strategy is to balance between local and international investors from the start, but I definitely see the point of having foreign investors on board first, which will help in turning local investors.
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