Prince Khaled bin Alwaleed Bolsters Biotechnology Portfolio, Announces New Investments "KBW Ventures is primarily investing in technologies that lead the pack or somehow stand out in the field."
By Tamara Pupic
You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.
KBW Ventures founder and CEO HRH Prince Khaled bin Alwaleed bin Talal Al Saud announced new KBW Ventures' investments in bioscience and biotechnology during the four day investment summit Future Investment Initiative (FII) 2024 in Riyadh.
"The newest commitments that we were discussing at FII were CytoSPAR, NeuroPlan, Truelli, and Qvin," Prince Khaled said, adding that those were very much in line with the Kingdom's focus on "healthspan." The KBW Ventures team also recently took part in the Riyadh Global Medical Biotechnology Summit which Prince Khaled described as "probably the strongest gathering in biotech worldwide."
From L to R: HRH Prince Khaled bin Alwaleed bin Talal Al Saud, founder and CEO, KBW Ventures, HRH Prince Abdullah bin Bandar bin Abdulaziz Al Saud, Minister of Saudi Arabian National Guard, HE Eng. Khalid A. Al-Falih, Minister of Investment of Saudi Arabia. Image source: Saudi Arabian Ministry of the National Guard X account
Speaking about his investments in biotechnology and biosciences, Prince Khaled said, "We use a five pane framework when we are assessing a startup for investment. Potential, predictability, and purpose are particularly important when it comes to biotechnologies. We also look for companies that have the potential to impact the MENA region, either by fitting into government mandates or something we want to see in the region."
He also shared that one of the company's first investments in diagnostics was in a Canadian startup addressing allergy testing.
"Diagnostic technologies interest me a lot, I think there's going to be leaps in the capabilities driven by AI; we're here for it!"
"KBW Ventures is primarily investing in technologies that lead the pack or somehow stand out in the field; we look at a company's IP, ease of adoption, and differentiation. The companies we have committed to most recently, including in AI, have standout potential," he said.
Dr. Abdulrahman Alolayan, founder and CEO, Beta Lab, HRH Prince Khaled bin Alwaleed bin Talal Al Saud, founder and CEO, KBW Ventures, Dr. Mehmood Khan, CEO, Hevolution, and Jeremy Thomas, CEO, Lifera at the RGMBS November 10, 2024. Image source: RGBMS
Prince Khaled, joined onsite by Chiefs of Investments and Communications, took part in various elements of the FII 2024 summit, including a working group conclave around ensuring global access to healthy aging solutions.
Co-chaired by Dr. Mehmood Khan, CEO of the Hevolution Foundation, Dr. Ellen Feehan, Partner, McKinsey & Company, Global Leader for Healthy Longevity, McKinsey Health Institute, and Dr. Fadia Saadah, Regional Director for Human Development in Middle East and North Africa Region, World Bank, the conclave included Dr. Paloma Haschke-Jospeh, Director of THINK, FII Institute, and several figures from across public and private sectors.
Prince Khaled also took part in panel discussion that looked at the evolving approach of venture capital firms, alongside investors from Saudi Arabia and further afield, including Bader S. AlMana, Deputy CIO amd Head of Direct Investments, Sanabil Investments.
Image courtesy: FII
FII8 took place in Riyadh on October 29-31, with over 8,000 delegates, including leaders, investors and innovators taking part in over 200 panels and discussions addressing critical challenges and improving the lives of citizens.
Held under the theme "Infinite Horizons: Investing Today, Shaping Tomorrow," the event witnessed the unveiling of several groundbreaking initiatives, including a global initiative to enable AI in emerging markets and Ocean Central, a digital platform developed by Wave and powered by FII Institute. Additionally, numerous investment initiatives were announced to support innovative projects in renewable energy, healthcare, and technology.
