Saudi Venture Capital (SVC) has announced its investment in Global Ventures III, an early-stage venture capital fund managed by Dubai-based Global Ventures, with a fund size exceeding $150m. The fund aims to invest in technology and tech-enabled sectors across Saudi Arabia and the wider MENA region as well as Sub-Saharan Africa. Key focus areas will be supply chain tech, agritech, enterprise SaaS, and emerging technologies like AI and deep tech.
This investment aligns with SVC’s mission to catalyse venture investments in Saudi-based startups, particularly during their early stages. It is part of SVC’s Investment in Funds Program, designed to support startups and SMEs through various growth stages, from pre-seed to pre-IPO.
Established in 2018 as a subsidiary of the SME Bank under the National Development Fund, SVC aims to foster sustainable financing for Saudi Arabia’s growing startup ecosystem.
Gulf Economist Staff Writer