Saudi private-markets investment platform OORI has obtained a license from the Capital Market Authority to conduct arrangement and advisory activities and is preparing to begin its operations in the Kingdom. The platform aims to provide qualified investors with regulated access to selected private investment opportunities that comply with Islamic Shariah, with an initial focus on technology companies from the pre-seed stage through the pre-IPO stage.
OORI was founded in 2023 by Eli Nasr and Nayef Al-Ajmi and is building a technology platform that enables qualified investors in Saudi Arabia to access private-markets opportunities within a regulatory framework. Its initial target areas include technology companies at the pre-seed, venture capital, growth and pre-IPO stages.
Previous funding to develop the platform and prepare for operations
The company closed a seven-figure US dollar pre-seed funding round in 2024, with participation from strategic investors, family offices and angel investors from Saudi Arabia, the Gulf Cooperation Council countries and Europe. Participating entities included Bunat Ventures and RZM Investments.
OORI allocated the funding to developing its technology platform, completing the regulatory licensing process and preparing to launch its operations. The company did not specify a date for the actual start of operations in the material.
Addressing challenges in accessing private markets
The company says that investing in private markets has traditionally been difficult to access because of the limited availability of deals, high minimum investment thresholds and illiquid investment structures. OORI seeks to address these obstacles through a regulated platform that provides selected investment opportunities and lays the foundation for a more transparent and efficient market infrastructure.
Eli Nasr, co-founder and CEO of OORI, said that limited access to private markets has historically been associated more with structural barriers and high costs than with a lack of demand. He added that the company built the platform to simplify the process and reduce costs while maintaining regulatory oversight.
For his part, Nayef Al-Ajmi, co-founder of OORI, said that choosing to apply for a Capital Market Authority license from the outset reflects the company's confidence in the Kingdom's long-term vision, noting that the platform aims to expand access to global private investment opportunities for a new segment of investors.
Partnership network and expansion plans
OORI has established a network of partnerships with investment banks, venture capital firms, private equity funds and other investment platforms, in addition to working with wealth managers, family offices and independent financial advisers. These relationships aim to support the provision of selected private investment opportunities to qualified investors.
After its initial focus on technology investments from the pre-seed stage to the pre-IPO stage, the platform plans to expand into additional alternative asset classes. Its long-term roadmap also includes exploring the use of tokenization, smart contracts and digital infrastructure for investment, without announcing details or a timeline for implementing these plans in the material.