Pan Ocean Capital Pioneers MENA’s First Tokenised Equity in Saudi Arabia

Mohammed Fathy

Last updated 2-02-2026

3 min

Pan Ocean Capital launches what it calls MENA’s first tokenised equity startup in Saudi Arabia.

LeWhdk Entertainment’s shares shift into digital tokens, aiming to widen investors without governance “faff”.

The events app targets a five-year valuation near $83m, signaling confidence in Saudi events tech.

Tokenised shares may reach global exchanges, though regulatory clarity could “slow down a little”.

About 8,3m tokens are earmarked for charitable initiatives, adding a social impact layer.

Pan Ocean Capital is making a bold move in Saudi Arabia, rolling out what it calls the first tokenised equity startup in the MENA region. The Riyadh-based asset manager is starting small but pointedly, by shifting the equity of LeWhdk Entertainment, a local platform best known for organising large-scale, modern events, into a token-based structure.

In simple terms, tokenised equity means company shares are converted into digital tokens, usually built on blockchain rails. The pitch is clear enough: open the doors to a wider pool of investors without turning governance into a bit of a faff. According to Pan Ocean Capital, LeWhdk is the first Saudi company to offer this kind of share ownership, with the firm positioning it as the opening act of a much bigger strategy.

LeWhdk’s app has reportedly been assessed with an eye on a five-year horizon, reaching a projected valuation of around $83 million by that point. That figure stands out, not just because of its size, but because of what it says about confidence in events tech in Saudi Arabia, an area that has quietly gathered pace alongside the Kingdom’s wider entertainment push.

From what has been outlined, the tokenised shares will sit within an approved governance framework and are expected to be listed on major global exchanges over time. Pan Ocean Capital plans to oversee the process as it scales beyond Saudi Arabia, first across the Middle East and then, if all goes to plan, into international markets. That said, regulatory clarity will be key, and I reckon this is where things may either become spot on… or slow down a little.

One detail that caught my eye is the social angle. The company says it has allocated 8.3 million LeWhdk tokens to charitable initiatives, weaving in an impact layer alongside the financial engineering. I’ve sat through enough startup pitches in the region to know this isn’t always more than lip service, but here it feels more deliberate, well… at least on paper.

For readers at Arageek, this move fits into a familiar pattern. I remember early conversations around crowdfunding in the Gulf years ago, when the idea alone felt like a stretch. Now we’re talking about tokenised equity and cross-border listings, and, believe it or not, it doesn’t sound so far-fetched anymore. I’m not a huge fan of hype-heavy blockchain talk, but this approach, anchored to a real business with cash flows, could be a turning point if executed carefully.

The initial rollout is focused on Saudi Arabia, with further expansion planned across the region, before heading further afield as the ecosystem matures. Whether this opens the floodgates or remains a niche experiment is still an open question. For now, Pan Ocean Capital has put its stake in the ground, and the region’s startup scene will be watching closely, definately with a mix of curiosity and caution.

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