Saudi Venture Capital Company (SVC), one of the development banks of the National Development Fund (NDF) has announced a $20 million investment in Booster IV, a venture capital fund managed by BECO Capital.
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With $495M in AUM across four funds, BECO Capital is the largest non-government early-stage venture firm in the Gulf.
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According to the company, BECO Capital’s Booster IV Fund invests in emerging companies capable of rapid growth or radical changes in their sectors. The fund focuses on the early stages of all sectors, from founding to financing round (A), with a geographic focus on the Kingdom of Saudi Arabia and the Gulf region.
Saudi Venture Capital CEO and Board Member Dr. Nabeel Koshak said: “Our investment in the Booster Fund IV by BECO Capital is part of SVC’s Investment in Funds Program, in alignment with our strategy to support funds that invest in Saudi-based startups with high-growth potential, especially during their early growth stages.”
BECO Capitalback is an early-stage tech entrepreneur across a wide range of sectors who are tackling massive white spaces, building robust technology, and driving the evolution of the ecosystem in the MENA region and beyond.
BECO Capital supports startups with their overall strategy, fundraising, and business development efforts and provides mentorship and ongoing data analytics and insights. It invested in 40+ startups and is building a global platform to continuously invest in cutting-edge tech.
About Saudi Venture Capital
Saudi Venture Capital (SVC) is an investment firm established in 2018 and is a subsidiary of the SME Bank. SVC aims to stimulate and develop financing solutions for startups and SMEs from pre-seed to pre-IPO by investing $2 billion through investment in Private Capital funds (Venture Capital, Private Equity, Venture Debt, Private Debt) and co-investment in startups and SMEs. SVC aims to develop the Venture Capital and Private Equity Ecosystem in Saudi Arabia to catalyze financing Startups and SMEs.
