A new angel investment network has emerged in Riyadh with the launch of the Black Iris Angel Network, a joint initiative by Q Fund and New Whys. The platform aims to strengthen early-stage financing in Saudi Arabia by empowering local investors and supporting promising founders. Its creation reflects growing momentum in the Kingdom’s startup landscape as the country accelerates efforts to meet national innovation and economic diversification goals.
A Strategic Partnership to Strengthen Early-Stage Capital
Q Fund, the investment arm of Qewam Holding, and New Whys developed the initiative to address persistent funding challenges faced by startups in their earliest phases. Both organizations bring deep experience in identifying and developing high-risk, high-potential opportunities, positioning the network as a sophisticated pipeline for angel investors. The collaboration reflects a shared commitment to nurturing ventures that have the capacity for rapid scaling and long-term value creation.
The partners describe Black Iris, also referred to as Bayan, as an investment group designed to enhance the flow of quality deals to investors across Saudi Arabia. By combining structured investment analysis with hands-on mentoring, the network seeks to elevate the standards of angel investing in the Kingdom. Its broader mission is to contribute to a more sustainable investment ecosystem that can support continuous startup formation and growth.
Industry Leaders Highlight the Need for Strong Angel Networks
Lewa Abukhait, CEO of Q Fund, emphasized that Saudi Arabia is entering a decisive period for venture development. She noted that the country is experiencing a significant leap in its investment environment, driven by new capital formation and increasing demand for local innovation. According to her, angel networks such as Bayan play an essential role in this progression by supplying early funding and strategic guidance to founders who are building solutions with large-scale potential.
Abukhait added that the partnership with New Whys aligns with Q Fund’s long-term objective of supporting ventures that can contribute meaningfully to Vision 2030. She underscored the importance of equipping entrepreneurs with both financial backing and specialized expertise to accelerate their path to market. The network is expected to help founders sharpen their strategies while giving investors access to vetted opportunities with strong developmental promise.
Hani Thalji, Managing Partner at New Whys, highlighted the analytical foundation behind the network. He explained that the team intends to apply rigorous opportunity assessment tools to help investors make informed decisions in an increasingly competitive landscape. Thalji said that a curated deal flow, combined with structured support, will enhance liquidity and strengthen the early-stage investment market across the Kingdom.
Building a Platform for Investors and Founders Alike
Black Iris Angel Network aims to offer more than simple capital access by integrating workshops, training, and mentorship programs into its structure. These resources are designed to help investors refine their evaluation processes while giving founders professional guidance on operating and scaling their businesses. The network positions itself as a bridge between entrepreneurial talent and investors who seek clear, data-driven opportunities.
The initiative also seeks to encourage active participation from Saudi professionals who want to expand their involvement in the venture space. Its programs will help new angel investors gain confidence by learning from experienced practitioners and industry experts. By cultivating both sides of the marketplace, the platform intends to build long-term engagement that supports a stronger national innovation pipeline.
As the Kingdom continues to diversify its economy, initiatives like Bayan reflect a growing appetite for dynamic, private-sector-driven investment models. The network aims to play an influential role in shaping the next generation of founders who will help define Saudi Arabia’s economic future. Its strategy aligns with broader national ambitions to create a globally competitive ecosystem that fosters high-value entrepreneurship.
The launch of the Black Iris Angel Network represents a meaningful step in expanding early-stage investment capabilities in Saudi Arabia. Through the combined strengths of Q Fund and New Whys, the platform will provide financial capital, mentorship, and education to both investors and entrepreneurs. As momentum continues across the Saudi startup ecosystem, initiatives like Bayan are poised to accelerate innovation and support the country’s long-term economic transformation.
Source: Entarabi