Assets managed by Saudi capital market institutions reached about SAR 1.36 trillion at the end of Q2 2026, up 6%, or SAR 74.5 billion, on the quarter, according to a CMA report; SNB Capital led with SAR 303.6 billion (22%), followed by Al Rajhi Capital at SAR 181.5 billion (13%) and Alinma Capital at SAR 128.6 billion (9%), and the top five firms held 60% of the total.
Five firms control 60% of a SAR 1.36 trillion market, and most of the growth is happening through bank-owned channels. If you run a boutique asset manager, focus on a niche that the top five overlook instead of trying to match their scale.
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PIF publishes its year
The Public Investment Fund's 2025 results show revenue up 9% to $120 billion and net profit more than doubling to $17 billion, with assets under management above $900 billion against $530 billion in 2021, annualised total shareholder return of 5.8% since 2017, 80% of assets held domestically and 55% in alternatives. PIF put its contribution at 11% of Saudi non-oil GDP in 2025 and $342 billion cumulatively from 2021 to 2025, with $199 billion deployed domestically over that period and international investments up 12% in 2025.
Revenue grew 9% and profit more than doubled, and the gap is portfolio companies beginning to pay out, not the fund's businesses running twice as well. The maturation of the new strategy is built on, showing up before the strategy did.
Riyadh's Startup Bench
More than 2,500 startups, roughly US$2.6 billion of venture capital into Riyadh since 2018, and four unicorns.
The takeaway: your next competitor — or your next acquisition — is younger than your strategy document. Corporates need a scouting lane, not a memo.
Three deals, 70% of the region
MENA startups raised $1.1 billion through 73 deals in September, according to Wamda and Digital Digest. Saudi Arabia led with 40 startups raising $947.2 million, and fintech generated 86% of the capital raised by Saudi companies. Three Saudi fintech deals, Barq's $329.5 million series A, Tabby's $233 million series F and Lendo's $200 million debt financing, totalled $762.5 million, nearly 70% of the region's monthly capital. Female-founded startups received $2.4 million.
Three Saudi fintech deals accounting for nearly 70% of the region's capital, September highlights the scale of individual successes rather than the overall depth of the market.
