The Saudi Venture Capital Company (SVC) has recently reported unprecedented levels of growth since its inception in 2018. The impact report sheds light on the firm’s most significant achievements and its role in evolving the Kingdom’s private investment system, including venture capital, private equity, and debt instruments.
According to the report, SVC’s total investments across all programs have reached SAR 2.6 billion since its establishment. The total impact of committed investments, including partner commitments, is estimated at around SAR 13.6 billion. SVC has invested in 40 investment funds and has stakes in over 700 startups and small to medium-sized enterprises (SMEs), spanning sectors like e-commerce, fintech, healthcare, edutech, and transportation and logistics services.
The report highlights that SVC’s strategic approach has positioned Saudi Arabia at the forefront of the Middle East and North Africa (MENA) region for the first time in 2023, in terms of total venture capital investment. This milestone reflects the country’s economic and financial development under the Saudi Vision 2030 and its goals to bolster the national economy.
Remarkably, the total venture investment in Saudi startups has multiplied by 21 times, reaching SAR 5.2 billion (USD 1.4 billion) in 2023 compared to the year 2018, marking the company’s launch year. Dr. Nabil Koshak, CEO and Board Member of SVC, commented on the report, emphasizing the ongoing journey and SVC’s commitment to further stimulate the private investment ecosystem. He mentioned that SVC plans to launch tailored investment programs and products based on careful analysis of ecosystem needs, aligning with regional and global business models. This initiative aims to encourage private sector investors to support startups and SMEs, enabling rapid and significant growth, thereby diversifying the national economy and achieving the objectives of Saudi Vision 2030.
