South Korea’s venture investment diplomacy is entering a new phase. During a major initiative in Riyadh, Korea Venture Investment Corporation (KVIC) formed direct working channels with Saudi Arabia’s government, sovereign funds, and policy institutions to co-develop joint venture funding structures. This step signals how both countries are using AI and deep-tech investment as strategic tools to connect Asia’s innovation capital with the Middle East’s emerging economic transformation.

Korea and Saudi Arabia Align on Venture Investment Cooperation

At the K-Global Star Meetup in Saudi Arabia held in Riyadh on February 8–9, Korea Venture Investment (KVIC) and thirteen domestic venture capital firms met with Saudi counterparts to deepen institutional collaboration in the venture investment sector.

The delegation included representatives from the Korea Venture Capital Association (KVCA) and the Korea Angel Investment Association, forming a unified public–private mission to expand Korea’s venture ecosystem engagement across the Middle East.

KVIC confirmed that the discussions reinforced Korea–Saudi venture cooperation through direct meetings with the Ministry of Communications and Information Technology (MCIT), Public Investment Fund (PIF), and affiliated organizations. Both sides agreed to jointly design a Korea–Saudi venture ecosystem model to promote fund formation, co-investment programs, and long-term startup funding channels.

Expanding the K-Global Star Program’s Reach

The Riyadh event was organized under Korea’s K-Global Star Program, a cross-border initiative launched in 2023 to link Korean startups and investors with international capital. The program is managed by KVIC in collaboration with domestic VCs to attract foreign investors, facilitate global expansion, and integrate overseas funding into Korean startup growth.

The discussions in Saudi Arabia focused on moving beyond pilot projects toward structured partnerships in fund management and joint capital deployment. The two sides identified the National Technology Development Program (NTDP) under MCIT as the central platform for implementing these collaborative projects. NTDP plans to significantly expand its global co-investment budget, creating new opportunities for Korean venture funds to participate in Middle Eastern investment pipelines.

Stakeholder Engagement and Institutional Discussions

During the Riyadh meetings, KVIC leadership held in-depth talks with Saudi Arabia’s Minister of Communications and Information Technology, Abdullah Al-Swaha, to outline a long-term framework for bilateral venture collaboration.

KVIC also met with JADA, the fund-of-funds management firm established by the Public Investment Fund (PIF), to explore joint investment models. Additional meetings were held with Saudi Venture Capital Company (SVC)—a subsidiary of the Saudi SME Bank—and Riyadh Valley Company, under King Saud University’s endowment fund, to discuss possible capital participation in Korean VC funds and multi-year strategic cooperation.

On the innovation front, KVIC engaged Humain, PIF’s AI-specialized investment vehicle, and Wa’ed Ventures, the venture arm of Saudi Aramco, to evaluate opportunities in AI and deep-tech investment co-funding. These dialogues reflected Saudi Arabia’s growing focus on next-generation technologies as it diversifies its economy under Vision 2030.

Lee Dae-hee, CEO of Korea Venture Investment, stated,

“This meeting established the groundwork for Korean venture capital to collaborate directly with the Saudi government and core investment institutions. Through ongoing engagement with MCIT and related agencies, we plan to expand Korea–Saudi venture investment cooperation in a more structured and scalable way.”

Korea’s Strategic Expansion into Middle Eastern Capital Networks

The Riyadh discussions underscore Korea’s deliberate strategy to integrate its venture ecosystem into Middle Eastern capital flows. For Saudi Arabia, cooperation with Korea offers access to proven VC models and investment management systems. As for South Korea, this initiative provides a new source of growth capital and a bridge into one of the world’s fastest-transforming economies.

The focus on AI and deep-tech sectors aligns with both countries’ economic priorities. Korea’s startup scene has matured into a hub for frontier technology, while Saudi Arabia is channeling Vision 2030 investments toward digital infrastructure and AI capability building.

By connecting these ecosystems through structured fund collaboration, both sides can unlock co-investment opportunities that extend beyond national borders—linking Korea’s technology depth with the Gulf’s liquidity and long-term investment outlook.

This shift also illustrates a new form of “venture diplomacy,” where innovation funding becomes a pillar of foreign policy. It follows Korea’s broader move to institutionalize startup cooperation with global partners, similar to previous frameworks signed with Singapore, the UAE, and Israel.

Building a Cross-Border Capital Architecture

The outcome of the Riyadh meetings reflects Korea’s transformation from an investment recipient into a cross-border capital orchestrator. KVIC’s engagement with Saudi sovereign and institutional investors could redefine the region’s venture map by embedding Korean deep-tech expertise into Middle Eastern funding streams.

If fully implemented, the proposed collaboration could establish a new model of Asia–MENA venture capital integration, advancing Korea’s ambition to serve as a bridge between advanced innovation ecosystems and emerging markets.

Key Takeaways on KVIC Korea – Saudi Arabia Collaboration 2026

• Event: K-Global Star Meetup in Saudi Arabia, held February 8–9, 2026, in Riyadh.
• Organizers: Korea Venture Investment (KVIC), Korea Venture Capital Association, and Korea Angel Investment Association.
• Purpose: Strengthen Korea–Saudi venture investment collaboration through fund co-creation and AI/deep-tech cooperation.
• Key Partners: MCIT, NTDP, PIF, JADA, SVC, Riyadh Valley Company, Humain, Wa’ed Ventures.
• Strategic Goal: Build structured investment linkages and a long-term capital cycle between Saudi funds and Korean VC/startup ecosystems.
• Broader Significance: Positions Korea as a venture capital bridge connecting Asia’s innovation base with the Middle East’s expanding technology economy under Vision 2030.

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