Seedford Partners Announces the 1st Saudi Space Fund

Seedford Partners has established the first Saudi private investment fund dedicated to investments in the commercial Space industry and Space Technologies. The announcement came during the LEAP 2024 conference. Seedford Partners is a leading international VC firm run by Nouf Alhaqbany and Fahad Alhussain. The group specializes in Deep Tech investments. 

Seedford is no stranger to Space investments.  The firm has a track record of more than 10 years of successful investments in different Space technology startups. Seedford’s portfolio includes Axiom Space, Voyager Space, SpaceX, Elroy Air, Skydweller and numerous other Space, earth observation and advanced air mobility companies.

“We are very excited about founding the 1st Saudi Space Fund ” said Nouf Ahaqbany, Seedford’s founder and managing partner.  Ms. Alhaqbany is a well-known figure in the Saudi finance and banking world. She has over 18 years of portfolio management and investment banking and portfolio management experience.  “The space economy will grow from the current 400 billion USD to over $1 trillion in 2040,” she highlighted during the press conference.

Fahad Alhussain, a managing partner, and co-founder of Seedford and one of the Kingdom’s Space pioneers. He was the communications engineer on the first Saudi-built satellite (Saudi Sat-1) and supervised the deployment of many satellite networks across the Kingdom.  Mr. Alhussain pointed out that the timing is in line with Saudi Arabia’s ambitious Vision 2030.  “We thank our Saudi private investors are very excited about the many opportunities we see in the fast-growing commercial Space industry.” 

Recently, there has been a great engagement and development in the Space industry in Kingdome of Saudi Arabia. The new established Saudi Space Agency (SSA) has a huge vision and mission for the Space industry in the Kingdom. 

The 1st Saudi Space Fund will work hand in hand with the Communication Space Technology Commission (CST) being responsible for the regulation and also for the entrepreneurship actives of the Space sector in the Kingdom.

Mr Frank M Salzgeber, Acting Vice Governor for Space Sector at CST  said during LEAP: “Private venture investment is a key pillar of a sustainable and innovative Space Ecosystem.”

The 1st Saudi Space Fund will involve the Saudi private sector in the global commercial space industry. It is an invitation to other investors.

The first Saudi Space Fund is commitment to working with SSA, CST and other Space industry leaders to create one of the world’s leading space industry ecosystems in Saudi Arabia.