Black Iris Angel Network Launches to Bridge Saudi Startup Funding Gap

Editorial Team

Last updated 5-12-2025

3 min

The Black Iris Angel Network launches in Saudi Arabia to support early-stage startups.

Q Fund and New Whys created the network to address the financing gap for entrepreneurs.

Both companies aim to provide early-stage capital, guidance, and expertise to startups.

The initiative plans to offer exclusive investment opportunities and mentorship programs.

Success depends on execution, but the intent of the network signals positive industry impact.

The startup scene in Saudi Arabia has been buzzing for a while now, but every so often something pops up that feels like it could genuinely shift the pace. The latest is the launch of the Black Iris Angel Network — أو “بيان” كما يطلقون عليها — born out of a strategic partnership between Q Fund, the investment arm of Quwam Holding, and New Whys. Both names are already well‑embedded in the local ecosystem, so seeing them join forces almost feels spot on, even if coordinating big players like that is usually a bit of a faff.

What caught my eye is how the two companies frame the network as a response to a real financing gap for early‑stage founders. I’ve heard countless entrepreneurs across the region mention that moment between having a solid idea and securing proper institutional backing — it can feel like staring into the void, you know? The idea behind “بيان” is to close that gap by making early cheques more accessible while also giving investors a clearer path into high‑risk, high‑return opportunities.

Louay Abukheit, the CEO of Q Fund, highlighted that the Kingdom is witnessing what he described as an unprecedented leap in venture investment. He said the team is proud of the partnership with New Whys, adding that angel groups like Black Iris play a vital role by offering not just early capital but also guidance and expertise. According to him, those elements are what help promising ideas grow into fast‑scaling companies that ultimately support the goals of Vision 2030.

On the flip side, Hani Thalji, managing partner at New Whys, emphasised how the collaboration taps into both firms’ accumulated experience in risk assessment and opportunity analysis. He noted that “بيان” aims to help angel investors make well‑informed decisions through curated deal flow and structured support — something I reckon has been long overdue in this space. His point about boosting “qualitative liquidity” in the early stages stood out too, suggesting they're not just thinking about deal-making but the broader health of the ecosystem.

Looking ahead, the network plans to offer its members exclusive investment opportunities, advanced workshops, and mentorship programmes. If done well… I mean, these kinds of initiatives can genuinely shape the next wave of Saudi startups. At Arageek, we’ve often seen how access to the right mentors at the right time can change a founder’s entire trajectory — I once met a young entrepreneur who said a single session with an angel investor helped him avoid a disastrous pricing strategy. Tiny details, huge impact.

So yes, Black Iris seems set on becoming more than just another investment club. Whether it delivers on that promise will depend on execution, as always, but the intent feels clear. And believe it or not, that clarity alone already puts them ahead of many new networks that launch with plenty of noise but very little direction. For now, the community will be watching — chuffed to bits if it succeeds, and definately curious to see how it all unfolds.

🚀 Got exciting news to share?

If you're a startup founder, VC, or PR agency with big updates—funding rounds, product launches 📢, or company milestones 🎉 — AraGeek English wants to hear from you!