Saudi Venture Capital commits SAR 1.1 bln investments in funds, startups

Logo of Saudi Venture Capital Co.

Saudi Venture Capital Co. (SVC) is committed to investing SAR 1.1 billion in funds and startups, according to a media report. 

The company has invested in 20 growth and venture capital funds, Al Eqtisadiah newspaper reported.  

SVC said it has concluded a total of 116 deals for Saudi startups until Q3 2021. The company’s accelerated growth over the last three years, in addition to the huge size of funds, were driven by the government stimulus initiatives, as well as new innovative investors and entrepreneurs.

The company plays a key role in stimulating private-sector venture capital to boost the industry constant growth across the Kingdom via rolling out a thorough strategy based on regional and global business models.

SVC is a government venture capital established in 2018, as part of the Private Sector Stimulus Program (PSSP).