The Saudi Venture Capital Company (SVC) announced its investment in Global Ventures III Fund, which is dedicated to investing in early-stage startups, with a size exceeding $150 million.
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The fund targets investing in technology and technology-enabled sectors in the Kingdom of Saudi Arabia, the Middle East and North Africa region, and Sub-Saharan Africa, with a primary focus on supply chain technologies, agricultural technologies, enterprise cloud computing solutions, and emerging technologies, including artificial intelligence and deep technologies.
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The CEO and Board Member of SVC, His Excellency Dr. Nabil Koshak, explained that this investment is part of the fund investment program, in line with the company’s strategy to support funds that invest in Saudi startups, especially during their early growth stages.
It is worth noting that SVC is an investment company established in 2018, affiliated with the Small and Medium Enterprises Bank, one of the development banks affiliated with the National Development Fund, and aims to stimulate and sustain the financing of emerging companies and small and medium enterprises from the pre-establishment stage to the pre-IPO stage by investing in funds and direct investment in emerging companies and small and medium enterprises.
About SVC
SVC 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.
About Global Ventures
Global Ventures is an international venture capital firm, investing in founders and ideas across emerging markets. We back global-minded founders that are leading growth-stage companies and using technology to transform emerging markets and the world. The Global Ventures team is a diverse, collaborative, talented and curious group of professionals who, combined, have years of experience and expertise building and scaling companies.
