Saudi Venture Capital (SVC) has announced a $15 million investment in Saqr Fund II, a venture capital fund managed by Vision Ventures. The fund, which has a target size of $90 million, focuses on early-stage startups from pre-seed to pre-series B stages, adopting a sector-agnostic approach across Saudi Arabia and the broader MENA region.
Dr. Nabeel Koshak, CEO and board member of SVC, stated that this investment is part of SVC’s broader “Investment in Funds Program,” designed to boost venture capital activity in the region. “Our goal is to stimulate venture investments and reduce fundraising challenges for fund managers looking to invest in high-growth Saudi startups throughout their various growth stages,” he said.
Kais Al-Essa, Founding Partner and CEO of Vision Ventures, expressed gratitude for SVC’s ongoing support, emphasizing the significance of having SVC as a key investor once again. He noted Vision Ventures’ strong track record of delivering exceptional returns, which continues to attract investors. Al-Essa highlighted Vision Ventures’ ability to identify and collaborate with promising startup teams, driving successful outcomes through their experience and passion for entrepreneurship.
