Rua Growth Fund

Rua Growth Fund is a venture capital firm that aims to lead the next wave of tech ventures. It was born out of a unique strategic partnership between Osool & Bakheet Investment Company and iMENA Group, two pioneers in their respective sectors to lead the next wave of innovative tech ventures in Saudi Arabia. It was founded in 2020 and is based in Riyadh, Saudi Arabia.

Turk Aljoaib

Managing Partner and Co-Founder

Past deals in Saudi Arabia

ZenHR

Venture Round in 2022
ZenHR is a cloud-based human resources management system based in Amman, Jordan, with additional offices in Dubai and Riyadh. Founded in 2016, the company focuses on the Middle East and North Africa, providing a comprehensive suite of HR solutions tailored to local labor laws, expat regulations, and tax requirements. ZenHR's software includes features such as onboarding and offboarding, attendance and time tracking, payroll, performance evaluation, and employee self-service tools. By streamlining HR processes, ZenHR aims to enhance the experience for both HR departments and employees, facilitating a seamless transition from recruitment to retirement. The platform serves a range of clients, from small and medium-sized enterprises to larger organizations, positioning itself as a leader in the B2B HR SaaS market in the region.

Lucidya

Series B in 2022
Lucidya, LLC is a software as a service (SaaS) company specializing in social media monitoring and analytics. Founded in 2015 and headquartered in Jeddah, Saudi Arabia, Lucidya offers a platform that enables organizations to detect and analyze social media trends, track hashtags, and access brand statistics through an interactive dashboard. It provides features such as real-time alerts, automated reporting, competitive analysis, and benchmarking. The company's unique AI and Arabic natural language processing technologies allow for accurate analysis of interactions in the Arabic language, positioning it as a leading tool in the MENA region. Lucidya serves a diverse clientele, including agencies, brands, non-profit organizations, and media entities, and has expanded its reach beyond Saudi Arabia to over six countries, catering to various industries such as telecommunications, banking, automotive, and retail.
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