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Raed Ventures has announced a new initiative to lend a helping hand to its portfolio companies. Dubbed Raed Plus, this new venture is a unique set of programs designed to offer various value-adding services instrumental in the growth and success of early-stage startups.

To help accomplish its objective, Raed is reportedly partnering many high-profile regional and global technology providers. Raed is believed to be in talks with more than 25 forms to forge strategic partnerships to offer its portfolio companies access to various critical services at free of cost or heavily discounted prices. Additionally, the portfolio companies would also benefit from international advisory expertise.

Raed is optimistic that not only will this new venture help startups to grow faster and expand, but it will also lead to savings of up to $400,000. Speaking of the vision behind the launch of Raed Plus, Omar Almajdouie, Founding Partner at Raed Ventures, said: “This program’s mission is to give all our portfolio companies equal opportunity to receive regular value-add services.”

For the uninitiated, Raed Ventures is one of the leading venture capital firms in the region. It primarily focuses on early-stage technology startups from Saudi Arabia, as well as the rest of the Middle East and North Africa. As of today, the company has 20 portfolio companies representing various verticals including data analytics, insurance, F&B, and logistics, to name a few.