Saudi Venture Capital (SVC) has announced its investment in Global Ventures III, an early-stage venture capital fund managed by Global Ventures. The fund, which exceeds $150 million, will focus on investing in tech and tech-enabled sectors across Saudi Arabia, the MENA region, and Sub-Saharan Africa.
Focus Areas of the Fund
The fund will primarily target the following sectors:
- Supply Chain Tech
- Agritech
- Enterprise SaaS
- Emerging technologies, including AI and Deep-tech
This strategic investment aims to catalyze innovation in these high-growth sectors, with a particular emphasis on supporting early-stage startups.
Strategic Alignment with SVC’s Goals
The investment is part of SVC’s Investment in Funds Program, which aligns with their broader strategy to foster venture investments in Saudi-based startups, particularly in their early stages. According to Dr. Nabeel Koshak, CEO and Board Member of SVC:
“Our investment in the venture capital fund by Global Ventures is part of SVC’s Investment in Funds Program, in alignment with our strategy to catalyze venture investments by fund managers investing in Saudi-based startups, especially during their early stages.”
Global Ventures’ Commitment to the Saudi VC Ecosystem
Noor Sweid, Founder and Managing Partner of Global Ventures, expressed pride in the ongoing partnership with SVC, emphasizing the immense market opportunities in emerging technologies. She noted:
“We are proud of our deep and continued partnership with SVC, and the investment underscores our continued deep commitment to enabling and building the Saudi Arabian VC and startup ecosystem.”
The partnership underscores the growing Saudi Arabian venture capital ecosystem, with exceptional founders in emerging technologies continuing to drive innovation.
About Saudi Venture Capital (SVC)
SVC, established in 2018, is a subsidiary of the SME Bank, which is part of the National Development Fund. Its mission is to stimulate and sustain financing for startups and SMEs across various stages, from pre-seed to pre-IPO. Through investments in funds and direct investments in startups, SVC plays a key role in the growth and development of the Saudi and regional startup ecosystems.
SVC’s investment in Global Ventures III reinforces its commitment to supporting early-stage startups and promoting technological innovation in Saudi Arabia, the MENA region, and Sub-Saharan Africa. By focusing on high-growth sectors such as Supply Chain Tech, Agritech, and AI, this partnership is poised to drive the next wave of entrepreneurship and economic development across the region.
