Saudi Venture Capital (SVC) has taken a significant step to strengthen the tech landscape across Saudi Arabia, MENA, and Sub-Saharan Africa. The firm SVC has announced an investment in Global Ventures III, a venture capital fund exceeding $150 million. Global Ventures directly manages this capital fund.
Focus on Emerging Tech
Global Ventures III aims to channel investments into early-stage tech and tech-enabled sectors. The primary focus areas include:
- Supply Chain Tech: Innovating logistics and delivery systems.
- Agritech: Transforming agriculture through cutting-edge solutions.
- Enterprise SaaS: Empowering businesses with software tools.
- Emerging Technologies: Pioneering developments in AI, Deep-tech, and more.
By addressing these critical sectors, the fund seeks to nurture innovation and provide startups with the capital and resources needed to thrive.
A Shared Vision for Growth
Dr. Nabeel Koshak, CEO and Board Member of SVC, emphasized the strategic importance of this investment:
“Our collaboration with Global Ventures aligns with SVC’s mission to catalyze venture investments in Saudi-based startups, particularly at their early stages. This partnership strengthens our efforts under the Investment in Funds Program, focusing on fostering growth and innovation.”
Noor Sweid, Founder and Managing Partner at Global Ventures, highlighted the ongoing commitment to the region:
“We value our deep partnership with SVC, and this investment reaffirms our dedication to building the Saudi Arabian VC and startup ecosystem. The opportunities in emerging technologies and platforms are immense, driven by exceptional founders making a mark globally.”
Driving Entrepreneurship Through Strategic Investments
Founded in 2018, SVC operates as a subsidiary of SME Bank under the National Development Fund. Its primary mission is to stimulate and sustain funding for startups and SMEs, ranging from pre-Seed to pre-IPO stages.
The Investment in Funds Program remains at the heart of SVC’s strategy, enabling fund managers to back startups with the potential to reshape industries. With this latest investment, SVC further solidifies its role as a catalyst for entrepreneurial growth and innovation in the region.
A Growing Ecosystem of Opportunity
The partnership between SVC and Global Ventures is poised to fuel a new wave of innovation across the tech ecosystem. By focusing on emerging technologies and critical sectors, the collaboration is set to unlock immense opportunities for startups while positioning Saudi Arabia as a hub for groundbreaking tech ventures.
