General Atlantic Announces Riyadh Office Opening as Firm Expands in the Middle East

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General Atlantic, a leading global growth investor, today announces the opening of its new office in Riyadh, Kingdom of Saudi Arabia. This strategic expansion will deepen General Atlantic’s commitment to investing in the Kingdom’s dynamic and growing Economy and partnering with entrepreneurs scaling in the region’s vibrant innovation ecosystem.

The new office will accelerate General Atlantic’s growth strategy in the Middle East and North Africa (MENAT), building on a successful decade of investing in the region, by bringing key executives into closer proximity with local entrepreneurs and growth companies across the firm’s core investment strategies – Technology, Healthcare, Financial Services, Consumer, and Climate.

General Atlantic has been actively investing in the MENAT region since 2012, deploying nearly $1 billion to date across its investments, including eyewa, a regional direct-to-consumer eyewear retailer; Property Finder, an online real estate platform headquartered in Dubai; Network International, a payments solutions provider; and Trendyol, a regional marketplace and e-commerce platform. The firm previously invested in Yemeksepeti, an online food ordering marketplace sold to Delivery Hero, and Network International, a payments solution provider headquartered in the UAE.

Strategic Rationale for General Atlantic’s Expansion
The MENAT region is one of the fastest-growing regions. The Middle East is expected to grow around 4 percent in 2025 and 2026 and has the potential to unlock around $1 trillion in additional GDP through greater economic diversification.
There is a vibrant entrepreneurial ecosystem taking hold. Government transformation programs are playing a pivotal role in supporting a new generation of entrepreneurs, including fluency in data analytics and AI as Saudi Arabia seeks to train 40% of its workforce with these skills. As an emerging digital economy, there is a young, tech-forward working population and high internet and mobile device penetration rates, which are key drivers of the region’s digital transformation.
The region is experiencing an acceleration of venture capital investment and strengthened capital markets with investor demand. Since 2020, VC funding in Saudi Arabia has charted a nearly 10x rise. There are also significant capital markets undergoing significant reforms, partially due to initiatives aimed at diversifying the economy and leading to 75+ IPOs of $100m+ in MENAT since 2021.
General Atlantic’s Riyadh office is subject to regulatory approvals.

About General Atlantic
General Atlantic is a leading global growth investor with more than four decades of experience providing capital and strategic support for over 520 growth companies throughout its history. Established in 1980, General Atlantic continues to be the dedicated partner to visionary founders and investors seeking to build dynamic businesses and create long-term value. Guided by the conviction that entrepreneurs can be incredible agents of transformational change, the firm combines a collaborative global approach, sector-specific expertise, a long-term investment horizon, and a deep understanding of growth drivers to partner with and scale innovative businesses around the world. In October 2024, General Atlantic closed its acquisition of Actis, a sustainable infrastructure firm with expertise in growth markets. The firm leverages its patient capital, operational expertise, and global platform to support a diversified investment platform spanning Growth Equity, Credit, Climate, and Sustainable Infrastructure strategies. General Atlantic manages approximately $97 billion in assets under management, inclusive of all strategies, as of September 30, 2024, with more than 900 professionals in 20 countries across five regions.

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