Saudi Arabian venture capital firms are pressing ahead with fundraising and deployment as they navigate disruptions from the regional conflict.

Riyadh-based Khwarizmi Ventures has secured more than $70 million for the first close of its second fund and has already begun investing, Managing Partner Abdulaziz Al-Turki said. Sadu Capital is targeting a roughly $70 million fund of its own this year, according to Managing Director Salem Washeely.