King & Spalding advises Riyad Bank and Riyad Capital to launch 1957 Ventures Fund

A cross-office team of King & Spalding lawyers has advised Riyad Bank and Riyad Capital to launch 1957 Ventures Fund, a fintech focused venture capital fund established in Saudi Arabia. The fund is regulated by the Saudi Arabian Capital Market Authority and will primarily invest in venture building opportunities and startups in the fintech and financial services space in Saudi Arabia. With over SAR 800 million in commitments, the Fund will support transformative growth in the Saudi fintech sector in line with the obligates of Saudi Vision 2030 and the Financial Sector Development Program. The King & Spalding team advising Riyad Bank and Riyad Capital includes James Stull (Dubai), Haifa Bahaian (Riyadh), Sayf Shuqair (Dubai), Saud Aldawsari (Riyadh) and Husam Alhmary (Riyadh).