Saudi Arabia’s Venture Capital Firm Commits $30 Million to Tech-Focused Equity Fund
The Saudi Venture Capital Company (SVC) has recently unveiled a substantial $30 million investment in a private equity fund managed by Olive Rock Partners. This fund is dedicated to actively investing in technically enabled acquisition operations.
At the signing of the agreement, SVC’s CEO and board member, Dr. Nabil Koshak, and Olive Rock Partners’ co-founder, Mohannad Kabbara, were present. The event was also attended by SVC’s Chief Investment Officer, Noura Al Sarhan, and Deputy Investment Officer, Haifa Al Mugbel, as well as Olive Rock Partners’ co-founder, Abdullah Shahin.
RelatedNews
Dr. Koshak elaborated on the investment, noting that the collaboration with Olive Rock Partners is part of SVC’s broader strategy to fund and sustain the growth and financing of startups and small to medium-sized enterprises (SMEs), particularly in strategic sectors.
Kabbara expressed gratitude to SVC for their investment and trust, highlighting the excitement over the fruitful partnership. He also emphasized the increasing importance of private equity partnerships in supporting the growth of the SME ecosystem and contributing to the expansion and evolution of the investment landscape.
Established in 2018, SVC is an arm of the SME Bank, a developmental financial institution under the National Development Fund. Its mission is to stimulate and sustain the financing of startups and SMEs from the pre-establishment stage through to the pre-initial public offering stage, by investing in funds and directly in emerging companies.
