Saudi Venture Capital (SVC) announced an investment of $15 million in Saqr Fund II, a venture capital fund managed by Vision Ventures.
Read also – The World Economic Forum Collaborates with the United Arab Emirates
Saqr Fund II, with a target size of $90 million, will invest in early-stage startups from pre-seed to pre-series B with a sector-agnostic approach in Saudi Arabia and the MENA region.
Read also – Burjeel Holdings Expands Primary Care Network Across the UAE
Dr. Nabeel Koshak, CEO and Board Member at SVC commented: “Our investment in the venture capital fund by Vision Ventures is part of SVC’s Investment in Funds Program, in alignment with our strategy to catalyze venture investments and minimize fund-raising entry barriers for fund managers who are looking to invest in Saudi-based high-growth startups during their different growth stages.”
Kais Al-Essa, Founding Partner and CEO of Vision Ventures commented: “SVC’s continued commitment towards our venture capital funds is a privilege. We are proud to have SVC as an anchor investor in our fund once again. Our ability to provide investors with exceptional performance and returns continues to attract investors, along with exceptional anchor investors such as SVC. Due to our entrepreneurial beginnings, we are best positioned to identify, partner with, and foster the growth of multiple startup and founder teams toward amazing results. We are passionate about what we do, and we have the track record to prove it.”
About Saudi Venture Capital
Saudi Venture Capital is an investment firm established in 2018 and is a subsidiary of the SME Bank, one of the development banks of the National Development Fund (NDF). 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.
Vision:
Saudi Venture Capital aims to develop the Venture Capital and Private Equity Ecosystem in Saudi Arabia to catalyze financing Startups and SMEs.
Principles:
- Balance economic impact and financial success.
- Prioritize national mandate via local and international partnerships.
- Develop the overall private capital ecosystem from pre-seed to pre-IPO.
Our Programs:
- Investment in Funds:
Investment in Private Capital funds, including venture capital, private equity, venture debt, private debt, startup studio, and accelerator funds. - Co-Investment in Startups:
Co-Investment with Fund Managers in Startups and SMEs.
