Riyadh, Saudi Arabia – Saudi Venture Capital (SVC) has announced its investment in Global Ventures III, an early-stage venture capital fund managed by the renowned UAE-based Global Ventures. With a fund size exceeding $150 million, the initiative aims to bolster technology and tech-enabled sectors across Saudi Arabia, the Middle East and North Africa (MENA), and Sub-Saharan Africa.
The fund’s investment strategy focuses on high-growth sectors, including supply chain tech, agritech, enterprise SaaS, and emerging technologies such as artificial intelligence and deep tech. By targeting these transformative industries, the fund is set to catalyze the growth of innovative startups and SMEs in the region.
Dr. Nabeel Koshak, CEO and Board Member of SVC, stated, “Our investment in the venture capital fund by Global Ventures is part of SVC’s Investment in Funds Program. It aligns with our strategy to catalyze venture investments by fund managers supporting Saudi-based startups, especially during their early stages.”
Established in 2018, SVC is a subsidiary of the SME Bank, under the National Development Fund, with a mandate to stimulate and sustain financing for startups and SMEs. Through its Investment in Funds and Direct Investment programs, SVC aims to bridge funding gaps for companies across their growth journeys, from pre-seed to pre-IPO stages.
Global Ventures III represents a significant milestone in fostering cross-regional collaboration and driving innovation. The fund’s strategic focus on Saudi Arabia aligns with the Kingdom’s Vision 2030 goals, emphasizing the development of a thriving entrepreneurial ecosystem.
By participating in this fund, SVC continues to solidify its position as a key enabler of economic diversification and technological advancement in Saudi Arabia and beyond.
About Saudi Venture Capital (SVC)
SVC is an investment company established in 2018, focusing on empowering startups and SMEs through investments in funds and direct support. As part of the SME Bank and National Development Fund, SVC plays a pivotal role in advancing the entrepreneurial and innovation landscape in Saudi Arabia.
