NextWave Signs Agreement for Startup Expansion through Korea-Saudi Private Investment Firms

Nextwave Venture Partners announced on the 27th that it has signed a business agreement with Saudi Arabian investment company (Accelerator-AC) Nmohub to support domestic startup companies in entering the Saudi and Middle Eastern markets and attracting investments.

Through this partnership, the two companies plan to create opportunities for promising domestic startups to enter Saudi Arabia and actively expand investment linkage programs between Korea and Saudi Arabia, thereby revitalizing overseas expansion.

Nmohub, an investment company with an office in Riyadh, the capital of Saudi Arabia, provides incubating and accelerating services for local startups to achieve early independence, including legal and tax consulting, investment advisory, and shared office operations.

Eng. Sultan Bin Mahi Alqahtani, Chairman of Nmohub, stated, “There is growing interest and active investment plans in promising startups with outstanding technological capabilities in Saudi Arabia. I am confident that this business agreement utilizing Nmohub’s incubating and accelerating platform will serve as a bridge for the development of startups between the two countries.”

Christian Joen, CEO of Nextwave Venture Partners (hereinafter “NWVP”), said, “Through this signing ceremony, activities such as market entry led by private investment companies, investment attraction, investment exchange, and business environment improvements between Korea and Saudi Arabia are expected to gain momentum.” He emphasized, “We will continue to develop a cooperative model based on mutual trust between the two countries, focusing on laying the foundation for the successful entry of Korean startups into Saudi Arabia, enhancing the global capabilities of domestic startups, and expanding into third growth markets based in the Middle East.”

In line with recent moves by the Ministry of SMEs and Startups and the Saudi Investment Authority, an open office space will also be provided for small and medium-sized venture companies entering the Riyadh Global Business Center (hereinafter “GBC”).

Along with the entry goals of the GBC, NWVP plans to collaborate with Nmohub to provide shared office spaces located in Riyadh, Saudi Arabia, and support various practical systems and certifications, business infrastructure establishment assistance, as well as specialized support programs including finance, investment, and technology exchange that are difficult to resolve locally for business operations.

Meanwhile, Nextwave Venture Partners LLC is an Australian alternative investment advisory firm founded by CEO Christian Joen (Jeon Su-yong), who has experience in aircraft financing, commercial and residential real estate project financing, and infrastructure asset project financing, and co-CEO Hyunwoong Ku (Ku Hyun-woong), who has extensive experience in domestic business and new business management at multinational global companies and consulting for new business based on intellectual property rights at major domestic corporations. The LLC-type VC actively conducts venture capital (VC) and accelerating (AC) operations, specializing in discovering promising early-stage startups, synergy investments among portfolios, business advancement linked to sales, and cross-border investment strategies for overseas expansion.

This content was produced with the assistance of AI translation services.