TN Media News:
Saudi Venture Capital (SVC) has announced its investment in Global Ventures III, an early-stage venture capital fund managed by Global Ventures, with a fund size exceeding $150 million.
Focus on Emerging Technologies
The fund will invest in tech and tech-enabled sectors across Saudi Arabia, MENA, and Sub-Saharan Africa. Key areas of focus include:
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Supply Chain Tech, Agritech, Enterprise SaaS, AI and Deep-tech
Strategic Alignment with SVC Goals
Dr. Nabeel Koshak, CEO and Board Member at SVC, stated:
This investment aligns with SVC’s strategy to catalyze venture funding in Saudi-based startups, especially at the early stages.
The move is part of SVC’s Investment in Funds Program, aimed at increasing venture activity in the Kingdom.
Strengthening VC Ties
Noor Sweid, Founder and Managing Partner at Global Ventures, expressed pride in the ongoing collaboration:
This partnership reflects our deep commitment to growing Saudi Arabia’s VC and startup ecosystem. The potential for innovation here is immense.
About SVC:
Founded in 2018, SVC is a subsidiary of the SME Bank, which operates under the National Development Fund. The company’s mission is to stimulate startup and SME financing from pre-Seed to pre-IPO, through both fund investments and direct investments.
This investment strengthens SVC’s role as a key player in fostering tech innovation and startup growth across the region.
#SVC | #GlobalVentures | #SaudiStartups | #TechInvestment | #VentureCapital | #AI | #DeepTech
