{"id":32138,"date":"2024-09-05T09:42:27","date_gmt":"2024-09-05T06:42:27","guid":{"rendered":"https:\/\/entarabi.com\/?p=32138"},"modified":"2024-09-05T09:45:23","modified_gmt":"2024-09-05T06:45:23","slug":"sab-invest-launches-first-venture-capital-fund-to-promote-financial-innovation-for-tech-companies","status":"publish","type":"post","link":"https:\/\/entarabi.com\/en\/2024\/09\/sab-invest-launches-first-venture-capital-fund-to-promote-financial-innovation-for-tech-companies\/","title":{"rendered":"SAB Invest Launches First Venture Capital Fund to Promote Financial Innovation for Tech Companies"},"content":{"rendered":"<div class=\"flex-1 overflow-hidden\">\n<div class=\"h-full\">\n<div class=\"react-scroll-to-bottom--css-ddwoa-79elbk h-full\">\n<div class=\"react-scroll-to-bottom--css-ddwoa-1n7m0yu\">\n<div class=\"flex flex-col text-sm md:pb-9\">\n<article class=\"w-full text-token-text-primary focus-visible:outline-2 focus-visible:outline-offset-[-4px]\" dir=\"auto\" data-testid=\"conversation-turn-9\" data-scroll-anchor=\"true\">\n<div class=\"text-base py-[18px] px-3 md:px-4 m-auto w-full md:px-5 lg:px-1 xl:px-5\">\n<div class=\"mx-auto flex flex-1 gap-4 text-base md:gap-5 lg:gap-6 md:max-w-3xl\">\n<div class=\"group\/conversation-turn relative flex w-full min-w-0 flex-col agent-turn\">\n<div class=\"flex-col gap-1 md:gap-3\">\n<div class=\"flex max-w-full flex-col flex-grow\">\n<div class=\"min-h-[20px] text-message flex w-full flex-col items-end gap-2 break-words [.text-message+&amp;]:mt-5 overflow-x-auto whitespace-normal\" dir=\"auto\" data-message-author-role=\"assistant\" data-message-id=\"d776621c-a459-4c6f-8f65-7d05f79dbf88\">\n<div class=\"flex w-full flex-col gap-1 empty:hidden first:pt-[3px]\">\n<div class=\"markdown prose w-full break-words dark:prose-invert light\">\n<p>SAB Invest has announced the launch of its inaugural venture capital fund focused on technology, aimed at fostering financial innovation for start-ups and companies operating within the tech sector.<\/p>\n<p>The launch took place during the &#8220;24Fintech&#8221; conference and exhibition held at the Riyadh International Convention and Exhibition Center.<\/p>\n<p>The event, themed &#8220;Beyond Borders\u2026 Beyond Time,&#8221; is organized by Fintech Saudi and the Alliance Company from September 3 to 5.<\/p>\n<p><strong>Fund Objectives<\/strong><\/p>\n<p>The fund aims to achieve financial innovation for technology start-ups and drive innovation, with a primary focus on early- and growth-stage companies across the tech landscape.<\/p>\n<p>This initiative aligns with the objectives of the Financial Sector Development Program under Vision 2030 to support private sector growth.<\/p>\n<p>SAB Invest will leverage its expertise and investment management capabilities within the Saudi market to meticulously select promising opportunities for the fund.<\/p>\n<p>Companies supported by the fund will benefit from financial backing, as well as access to SAB Invest\u2019s extensive network and capabilities in the financial services sector.<\/p>\n<p>Ali Almansour, CEO of SAB Invest, commented: \u201cThe launch of this fund underscores the ongoing commitment of major institutions to enhance innovation and support the growth of the Saudi fintech ecosystem.\u201d<\/p>\n<p>He added, \u201cWe believe that such investments in the fintech sector have the potential to transform the financial services industry and empower the Kingdom\u2019s population with innovative financial products and services.\u201d<\/p>\n<p>Tony Cripps, CEO of SAB, said: \u201cWe are excited to invest in this venture capital fund to accelerate financial innovation and improve customer experiences and offerings in the market.<\/p>\n<p>The local fintech sector holds immense potential, and this fund will play a crucial role in supporting the next generation of disruptive and emerging financial technologies.\u201d<\/p>\n<p>He noted, \u201cBy investing in promising high-growth potential start-ups, we aim to contribute to a more innovative and inclusive financial ecosystem in the country, in line with the aspirations of Vision 2030.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>SAB Invest has announced the launch of its inaugural venture capital fund focused on technology, aimed at fostering financial innovation for start-ups and companies operating within the tech sector.<\/p>\n","protected":false},"author":11,"featured_media":32139,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"post_subtitle":"","footnotes":""},"categories":[5368],"tags":[5680,5679],"class_list":["post-32138","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-24fintech","tag-24fintech-en","tag-sab-invest"],"_links":{"self":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/32138","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/comments?post=32138"}],"version-history":[{"count":0,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/32138\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media\/32139"}],"wp:attachment":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media?parent=32138"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/categories?post=32138"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/tags?post=32138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}