The Saudi Venture Capital Company Achieves Record Growth Levels and Invests in 40 Investment Funds
In a recent report released by the Saudi Venture Capital Company (SVC), it was revealed that the company has achieved record growth levels since its establishment in 2018, highlighting its significant accomplishments and impact on the development of the private investment ecosystem in the Kingdom of Saudi Arabia.
According to the report, the company’s total investments since its inception amounted to 2.6 billion Saudi riyals, with an estimated total investment impact committed to approximately 13.6 billion Saudi riyals. This includes investments in 40 investment funds and over 700 startup companies and small to medium-sized enterprises.
The report indicated that the company’s investment strategy has contributed to Saudi Arabia’s leading position in the region in terms of the value of venture capital investment in 2023, reaffirming the economic and financial development witnessed by the Kingdom in line with Vision 2030.
Dr. Nabil bin Abdulqader Kushk, the CEO of the company, emphasized SVC’s commitment to supporting the private investment ecosystem through the launch of diverse investment programs and products that meet market needs and enhance the role of private investors in supporting startups and small to medium-sized enterprises, thereby achieving the goals of Vision 2030.
In contrast, the report announced a significant increase in venture capital investment in Saudi startups, which multiplied by 21 times to reach 5.2 billion Saudi riyals in 2023 compared to 2018, reflecting the remarkable growth achieved by SVC in a short period since its establishment.
With these achievements, SVC reaffirms its vital role in supporting the national economy and achieving the sustainable development goals of the Kingdom of Saudi Arabia.
