Riyadh – Sharikat Mubasher: Saudi Venture Capital (SVC) has announced its investment in Global Ventures III, an early-stage venture capital fund managed by Global Ventures, with a fund size exceeding $150 million.

The fund aims to support technology and tech-enabled sectors across Saudi Arabia, the Middle East and North Africa (MENA), and Sub-Saharan Africa, according to an SVC press release.

Key focus areas include supply chain technology, agritech, enterprise SaaS, and emerging technologies such as artificial intelligence and deep tech.

This move underscores SVC's ongoing commitment to nurturing the region's innovation ecosystem and supporting the growth of early-stage companies in critical technology sectors.

Nabeel Koshak, CEO and Board Member of SVC highlighted the strategic importance of the investment: “Our investment in the venture capital fund by Global Ventures is part of SVC's Investment in Funds Program, in alignment with our strategy to catalyze venture investments by fund managers investing in Saudi-based startups, especially during their early stages.”

Established in 2018, SVC operates as a subsidiary of the SME Bank under the National Development Fund. Its mission is to foster and sustain financing for startups and small and medium-sized enterprises (SMEs) from pre-seed to pre-IPO stages, leveraging investments in funds and direct contributions to startups and SMEs.