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

5 past transactions

The Cloud

Series A in 2022
Operator of food ecosystem and innovation platform intended to improve food delivery operations. The company connects food platforms into one dashboard to seamlessly manage all the orders through a single workflow, enabling clients to take advantage of integrated planning, inventory, and supply chain management in a single platform for efficient kitchen operations.

Bonat

Seed Round in 2022
Developer of an application-based customer loyalty platform intended to retain and acquire more customers. The company's platform provides a web interface to manage loyalty programs that include data analytics, feedback, customer communication and sending gifts among others, enabling companies to build meaningful relationships with their customers.

Carasti

Convertible Note in 2022
Carasti is an app where you can subscribe to a car and have the flexibility to switch when you like. The days of being locked into a long term loan, lease or overpriced rental are over. We live in a world where the sharing economy, on demand and subscription culture is taking over. We have seen this with music (Spotify), movies (Netflix), books (Scribd), hotels (AirBnB) etc. When it comes to cars, things have really not moved too much for the past 100 years however the difference today is that we have much more accessible transportation options and therefore cars, instead of being the symbol of ultimate freedom are seen as a depreciating burden. In fact, buying a car today means spending lots of money and time on many disjointed services such as insurance, roadside assistance, maintenance, tax & registration. Because of this by 2025 more than 50% of car owners today will not want to own a car (KPMG) & customers are demanding more flexible renting and leasing options as well as leveraging other more convenient access to mobility such as Uber (on demand ride hailing) and Lime (kick scooter). The reality is that customers are shifting towards an access and not ownership model therefore our value proposition is a flexible low barrier to entry for consumers to access a car and a way for dealerships, rental & leasing companies to substantially increase revenue and tap into the growing trend of the subscription model culture.

Lucidya

Series B in 2022
Lucidya, LLC is a software as a service (SaaS) company based in Jeddah, Saudi Arabia, that specializes in social media monitoring and analytics. Founded in 2015, Lucidya offers a platform that enables businesses to gain insights into consumer behavior through real-time analysis of social media content. Its features include spike detection, trending hashtag identification, and social media statistics displayed on an interactive dashboard. The platform also provides real-time alerts, automated reporting, and competitive analysis, allowing organizations to make informed strategic decisions. Lucidya serves a diverse clientele, including agencies, brands, non-profit organizations, and media outlets, helping them to better understand and engage with their audiences.

CoinMENA

Seed Round in 2021
Operator of a crypto-assets trading platform intended to provide a safe and easy way to buy and sell digital assets. The company's exchange platform offers retail and institutional clients to buy and sell cryptocurrencies and tokens and also offers news and updates on the crypto space, enabling investors to participate in the digital economy in an efficient way.
Spot something off? Help us improve by flagging any incorrect or outdated information. Just email us at support@teaserclub.com. Your feedback is most welcome.