Trending:
SVC Joins Forces with MEVP to Drive Tech Innovation
Saudi Venture Capital (SVC) has announced a strategic investment in Middle East Venture Fund Partners IV (MEVP) . MEVP IV is a $150 million fund managed by the renowned venture capital firm, Middle East Venture Partners. This collaboration marks a significant step forward in fostering the growth of the regional tech ecosystem.
Fueling the Next Wave of Tech Champions
MEVP Fund IV will focus on investing in high-growth tech companies across the GCC, Levant, and North Africa, supporting them throughout their journey from early-stage to growth-stage and ultimately towards successful exits. Above all, this investment aligns perfectly with SVC’s mission to nurture and support the growth of Saudi Arabian startups.
A Strategic Partnership for Growth
“This investment in MEVP Fund IV underscores SVC’s commitment to backing funds that invest in promising Saudi startups,” says Dr. Nabeel Koshak, CEO and Board Member at SVC. “By supporting MEVP, we are empowering them to identify and nurture the next generation of tech leaders in the region.”
MEVP — A Proven Track Record
MEVP has a long and successful history of investing in and supporting innovative startups across the Middle East. With over a decade of experience, MEVP has invested more than $50 million in Saudi Arabia. This resulted in the creation of over 12,000 jobs and attracting over $1.1 billion in co-investments.
“We are thrilled to have SVC join us on this exciting journey,” says Walid Mansour, Co-Founder and Co-CEO at MEVP. “This partnership will enable us to expand our investment footprint in Saudi Arabia and further amplify our positive impact on the Kingdom’s economy and society.”
SVC MEVP Funding — Building a Stronger Tech Ecosystem
This strategic investment by SVC in MEVP Fund IV is a significant step towards building a robust and thriving tech ecosystem in the region. By providing crucial funding and support to promising startups, this partnership will drive innovation. Consequently, creating jobs, and contributing to the economic growth of Saudi Arabia and the wider Middle East.
