SVC celebrates 5 years of supporting venture investment in Saudi Arabia
The Saudi Venture Capital Company (SVC) celebrated Saudi Arabia’s achievement of first place in the Middle East and North Africa region in terms of venture capital investment volume in 2023, marking five years since its establishment.
The event was attended by partners of the Saudi Venture Capital Company, including government leaders, investment fund managers, and entrepreneurs, alongside the company’s team.
The ceremony featured a presentation by the company’s Chief Investment Officer, Nora Al-Sarhan, who outlined the company’s achievements since its inception in numbers and discussed its future directions.
Deputy Chief Investment Officer Haifa Al-Muqbil provided a comprehensive overview of the venture capital market regionally and globally, comparing it to Saudi Arabia’s positive position in this field.
Dr. Nabil Kushk, CEO and board member of the Saudi Venture Capital Company, emphasized the company’s strategic role in developing the venture capital ecosystem in the Kingdom.
He affirmed that Saudi Arabia’s leadership in the venture capital investment arena in the region is a result of the economic and investment movement driven by government support under the leadership of the Custodian of the Two Holy Mosques and the Crown Prince, in line with the goals of Vision 2030 to enhance the national economy.
Kushk added: “Success is the result of an integrated system effort.
I extend my sincere thanks to government entities that have launched quality programs and initiatives to support the venture capital ecosystem, developed legislative frameworks, and created an environment that helps startups innovate and thrive with greater flexibility and support.
“We could not have achieved this accomplishment without active investors and fund managers who supported startups during various stages of their growth.
And certainly, all these efforts would not have yielded results without innovative entrepreneurs who worked diligently to launch companies capable of rapid growth within and outside the Kingdom.”
