Riyadh Valley makes 500% investment yield on GLM sale
Riyadh Valley Co., a venture capital arm of King Saud University, said it recorded an investment yield of 500 percent from selling Green Lord Motors (GLM) to the Hong Kong-based investment firm O Luxe, state-owned news agency, SPA, reported, citing Riyadh Valley’s CEO, Khalid Al-Saleh.
The value of Riyadh Valley’s investment in GLM was undisclosed.
Kyoto-based electric vehicle (EV) start-up GLM was founded in 2010 by a group of Kyoto University graduates.
Riyadh Valley, based in Saudi Arabia, invests in innovation-based startups through incubation services and also invests in the development of human capital in the domains of technology and knowledge investment.