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

9 past transactions

Ula.me

Series B in 2025
Ula.me is an innovative educational technology company focused on empowering Arab children through personalized learning experiences. The company utilizes cutting-edge artificial intelligence to analyze student performance and tailor educational content accordingly. Ula.me offers a comprehensive suite of services, including learning courses, educational games, live tutoring, and assessments, supplemented by augmented and virtual reality technologies. By providing these resources, Ula.me aims to enhance the knowledge, skills, and attitudes of Arab learners, fostering an educational environment that is engaging, accessible, and effective. The ultimate goal is to cultivate a competent and empowered generation of Arab youth capable of thriving in an increasingly complex world.

Ejari

Seed Round in 2024
Ejari is a real estate technology company that simplifies the rental process for both tenants and landlords. It offers a 'rent now, pay later' service, allowing tenants to secure a property upfront and then pay for it in monthly installments. Ejari handles all necessary paperwork and provides support throughout the process.

Intelmatix

Series A in 2024
Intelmatix is a deep-tech artificial intelligence company that develops an intelligent platform to improve organizational performance. The company combines domain knowledge with data sensing, processing, analysis and interaction to create automated systems that address sector-specific challenges. Its platform enables tailored solutions and products that integrate across domains, supporting organizations in reinventing their future strategies and current operations by enhancing decision making, workflow efficiency and overall performance.

ZenHR

Venture Round in 2022
ZenHR is a cloud-based human resources management system based in Amman, Jordan, with additional locations in Dubai and Riyadh. Founded in 2016, the company specializes in providing HR software solutions tailored for the Middle East and North Africa region. ZenHR's platform includes a comprehensive suite of features such as onboarding and offboarding, employee self-service, attendance and time tracking, payroll, and performance evaluation. The software is designed to comply with local labor laws, social insurance, tax regulations, and expat requirements, making it suitable for a wide range of clients from small and medium enterprises to larger organizations. By automating processes like salary calculations and offering user-friendly interfaces, ZenHR aims to enhance the overall HR experience for both departments and employees, facilitating a seamless transition from the hiring phase to retirement.

The Cloud

Series A in 2022
The Cloud is a technology platform that enables kitchens to utilize excess capacity by hosting third-party restaurants and helps restaurant chains expand their delivery reach. It provides a unified system that combines online order management, sales analytics, and supply chain coordination, along with kitchen-matching and partner onboarding tools to optimize space utilization and speed market entry. By facilitating shared kitchen operations, the platform aims to reduce front of house costs while enabling brands to scale deliveries with lower risk and investment.

Carasti Holding

Convertible Note in 2022
Carasti Holding operates a car subscription platform that aims to democratize access to vehicles by providing a debt-free driving experience. The company offers a diverse fleet of vehicles that can be subscribed to without the financial burdens associated with traditional car ownership, such as loans or hefty down payments. Carasti's innovative model emphasizes convenience and transparency, eliminating the stress of negotiations and unexpected costs. Customers benefit from a fully digital process that streamlines everything from registration to maintenance, ensuring a hassle-free experience. With options to choose, swap, upgrade, or downgrade vehicles according to individual preferences and budgets, Carasti caters to modern consumers who prioritize flexibility and ease in their automotive choices.

Lucidya

Series B in 2022
Lucidya is a Saudi Arabia-based enterprise B2B SaaS company offering an AI-powered social media monitoring and analytics platform. The platform provides real-time analytics, spike detection, trend analysis, and trend reporting, with proprietary Arabic-language models for sentiment analysis, enabling brands, agencies, media, and public-sector organizations to monitor conversations, manage engagement, and benchmark performance across channels. It supports automated reporting, real-time alerts, and cross-channel benchmarking, serving industries such as telecoms, BFSI, automotive, FMCG, and retail.

CoinMENA

Seed Round in 2021
CoinMENA operates a Sharia-compliant platform for trading crypto-assets. Users can securely buy, sell, store, and receive digital assets. It offers competitive fees, high liquidity, and educational resources.
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