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Despite Saudi Arabia ’s record of human rights abuses , some investors are warming up to investing in the country ’s startups .
General Catalyst is planning to empower in Lean Technology , a Saudi Arabia - based fintech startup , the firm ’s first investiture in the midway Eastern country , the Information reported .
Other Saudi Arabian startups that U.S.-based investors latterly backed include lending platform Tamara , which last year received capital from Coatue Management .
While not a verbatim investment , a16z - gage Flow , a co - living inauguration founded by Adam Neumann , hasopened an apartment complexin Saudi Arabia ’s capital letter , Riyadh .
Saudi Arabia ’s Public Investment Fund ’s venture arm Sanabil Investments hasbacked a telephone number of U.S.-based venture capital firmsaccording to its web site , include a16z , Craft Ventures , and Insight Partners , with the reported destination that these firm will invest in mediate easterly startups in return .
General Catalyst is not among a list of VC firms that the PIF lists as having back on its internet site .
