Saudi Venture Capital Company Invests in Ra’ed III Fund to Support Tech Startups
Saudi Venture Capital Company (SVC) Announces Investment in “Ra’ed III Fund” to Foster the Growth of Tech Startups in Saudi Arabia and the MENA Region
Focus on Early-Stage Growth Investments
The “Ra’ed III Fund,” managed by Ra’ed Ventures, invests in early-stage startups, specifically Seed and Series A stages. The fund emphasizes key sectors such as:
- FinTech
- Enterprise Software
- B2B SaaS
With a primary focus on the Saudi and UAE markets, the fund aims to support startups that are at the forefront of innovation and growth.
Strategic Statements from SVC and Ra’ed Ventures
Dr. Nabeel Koshak, CEO and Board Member of SVC, commented:
“Our investment in the ‘Ra’ed III Fund’ aligns with our strategy to support venture capital funds focusing on Saudi startups across various growth stages. Through this support, we aim to accelerate the growth of these startups and contribute to the diversification of the national economy, in line with the objectives of Vision 2030.”
Omar Al-Majdouie, Co-founder of Ra’ed Ventures, stated:
“This strategic partnership with SVC builds on the successes of our previous ‘Ra’ed II Fund.’ We highly value SVC’s role in advancing the startup ecosystem in Saudi Arabia and bolstering its regional leadership.”
About Saudi Venture Capital Company (SVC)
Founded in 2018 as a subsidiary of the Small and Medium Enterprises Bank, a fund under the National Development Fund, SVC aims to:
- Stimulate and sustain the funding of startups.
- Support SMEs from pre-seed to pre-IPO stages.
- Promote investment in promising sectors to achieve the economic goals of Vision 2030.