Riyadh – Saudi Venture Capital (SVC) has announced an investment of $15 million in Saqr Fund II, a venture capital fund managed by Vision Ventures. The fund, targeting a total size of $90 million, is focused on early-stage startups, investing in companies from pre-seed to pre-series B stages with a sector-agnostic approach. Saqr Fund II aims to support innovation and entrepreneurial growth in Saudi Arabia and the broader MENA region.
Dr. Nabeel Koshak, CEO and Board Member at SVC, emphasized the strategic intent behind the investment, saying, “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.”
This move aligns with Saudi Arabia’s broader efforts to foster a thriving startup ecosystem as part of Vision 2030, encouraging innovation, entrepreneurship, and economic diversification.
Kais Al-Essa, Founding Partner and CEO of Vision Ventures, expressed his appreciation for SVC’s ongoing support: “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, including key anchor investors such as SVC.”
Al-Essa added, “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.”
SVC’s investment in Saqr Fund II is expected to significantly boost early-stage startups in the region, providing essential financial support and strategic guidance as they navigate growth challenges. By empowering these startups, the fund aims to drive economic progress and innovation across multiple sectors.
