Ivo Detelinov has been in Saudi Arabia since late 2013, when he joined Riyad Capital in Riyadh to set up their alternative investments group with a focus on Venture Capital. Prior to that he was in the Financial Sponsors Group of Merrill Lynch for 10 years in New York and London.
Ivo was the Senior Portfolio Manager at Riyad TAQNIA Fund (RTF) which is a $130m VC fund ($65m equity + $65m government-guaranteed debt facility) launched in 2015, focused on post-revenue Seed and Series A investments.
Ivo and his associates have largely been seen as the “architects” of the venture asset class in the Kingdom of Saudi Arabia and has helped shape many Saudi VC programs.
In 2018, RTF was part of the largest GCC Series A when Saudi-based cloud communication start-up Unifonic closed a $21 million Series A funding round.
In 2019, RTF was also part of the new largest GCC Series A – in logistics tech company TruKKer, which raised $23 million. RTF is the largest shareholder in TruKKer and first invested in 2017 at a valuation of $4 million.
Ivo was previously on the boards of Beehive (the first MENA P2P lender), TruKKer and Souqalmal (the first MENA insurance comparison platform, in which Go Compare UK has also invested). Ivo and his RTF team had brought these 3 companies from their home base in Dubai, UAE into Saudi Arabia, thereby significantly increasing their growth prospects and valuations.
He is a CFA charter holder and an MBA in Finance from Stern School of Business at NYU.