- SVC announced investments in Middle East Venture Fund IV (USD 150M) and Raed III L.P. to support Saudi and regional tech startups.
- The funds will focus on high-growth sectors including fintech, enterprise software, and B2B SaaS, primarily targeting early-stage startups in Saudi Arabia and MENA.
- SVC aims to drive long-term economic impact and foster Saudi-based startups from Seed to IPO, in line with Vision 2030 goals.
Saudi Venture Capital (SVC) announced its latest investments in two venture capitals supporting startups in Saudi Arabia and the MENA region, in line with Saudi Arabia’s Vision 2030 to boost the growth of Saudi tech and entrepreneurial ecosystem.
Investment in MEVP’s Middle East Venture Fund IV
SVC has committed to investing in the Middle East Venture Fund IV, managed by Middle East Venture Partners (MEVP), with a fund size of USD 150 million.
This funding will support tech startups with high growth potential and aims to drive long-term positive impacts across various sectors in Saudi Arabia’s modernizing economy.
The initiative will nurture startups from Seed to Series A, Series B, and IPO/exit stages, building both Saudi and regional technology champions.
Nabeel Koshak, CEO and Board Member at SVC, stated in a press release: “Our investment in the Middle East Venture Fund IV by MEVP supports SVC’s strategy of backing funds that invest in early-stage startups based in Saudi Arabia, aiming to foster their growth into later stages.”
Investment in Raed Ventures’ Raed III Fund
Additionally, SVC has also invested in Raed III L.P., an early-stage venture capital fund managed by Raed Ventures, focusing on tech-enabled startups.
Walid Mansour, Co-Founder and Co-CEO at MEVP, commented in a press release: “Over the past decade, we have deployed more than USD 50 million into some of Saudi Arabia’s leading tech startups, helping create over 12,000 jobs and attract USD 1.1 billion in co-investments that have contributed to Saudi Arabia’s FDI.”
He added, “With SVC’s support, we will further expand our investment footprint in Saudi Arabia, enhancing our positive economic and social impact.”
SVC’s Support for MENA Startups
SVC’s investment in Raed III L.P. targets tech and tech-enabled startups in Saudi Arabia and MENA, with a focus on fintech, enterprise software, and B2B SaaS. The fund will emphasize early-stage investments in the Saudi and UAE markets.
Nabeel Koshak also remarked: “Our investment in the venture capital fund managed by Raed Ventures aligns with our strategy to back private funds that focus on Saudi-based startups at different stages of growth.”
Omar Almajdouie, Founding Partner at Raed Ventures, stated: “We are delighted to continue our strategic partnership with SVC as an anchor investor in Raed III, building upon the success of our collaboration in Raed II.”
Founded in 2018 as a subsidiary of the SME Bank, under the National Development Fund, SVC aims to stimulate financing for startups and SMEs, from pre-Seed to pre-IPO, by investing in funds and directly in companies.
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