Arab Finance: Beltone Venture Capital (BVC), the venture capital arm of Beltone Holding, is increasing its investment in Egyptian consumer brands ariika and Lychee as the two companies prepare to expand their operations in Saudi Arabia, as per an emailed press release.

Both companies are set to open a combined five new stores in Riyadh, as part of their plans to grow their presence in the Saudi market.

The expansion reflects BVC's strategy of supporting portfolio companies beyond capital investment by working with them as they scale their businesses regionally.

Ali Mokhtar, CEO of Beltone Venture Capital, commented: "ariika and Lychee represent exactly what we look for homegrown Egyptian brands with proven profitability, exceptional leadership, and the ambition to redefine their categories across the region. We are long-term partners in building the next generation of MENA consumer powerhouses. With combined five new stores opening in Riyadh, this is just the beginning."

Meanwhile, Khaled Attallah, CEO and Co-Founder of ariika, said: "Saudi Arabia has always been central to our regional vision. Opening two stores in Riyadh is not just an expansion, it is a statement. We have built a brand that resonates deeply with consumers who value design, quality, and an exceptional experience, and we are confident that ariika will find its home in the Saudi market just as it has across Egypt and Iraq. This is the next chapter, and we are only getting started."

Mohamed Assy, Founder and CEO of Lychee, noted: "We have been building this moment for years. Saudi Arabia is not just another market for us it is the foundation of our regional ambition. We spent considerable time understanding the Saudi consumer deeply, their rhythms, their tastes, their expectations, before committing to this expansion. Opening three stores in Riyadh is our declaration that Lychee belongs in this market, and we intend to lead the healthy F&B space here just as we have done in Egypt."