• Saudi Venture Capital (SVC) aims to support the growth of early-stage startups in Saudi Arabia and the Gulf region to foster innovation, diversify the economy, and create jobs.

• SVC is investing USD 20 million in BECO Capital’s Booster Fund IV, which manages USD 495 million in assets, to back startups with high growth potential in sectors like tech and e-commerce.

• The venture capital, through its role as a subsidiary of the SME Bank, provides funding from pre-seed to pre-IPO stages, using a fund-of-funds model to drive financing into entrepreneurial ventures across the region.

Saudi Venture Capital (SVC) is injecting USD 20 million into early-stage businesses as part of its drive to fuel entrepreneurial growth in the region.

Strategic Investment in BECO’s Booster Fund IV

The investment goes into Booster Fund IV, managed by Dubai-based BECO Capital, which oversees $495 million in assets under management (AUM). This aligns with SVC’s focus on supporting high-potential startups in Saudi Arabia, as stated by SVC CEO Nabeel Koshak.

SVC Focus on Saudi and Gulf Entrepreneurs

BECO Capital’s fund specifically targets early-stage entrepreneurs across Saudi Arabia. It also targets the wider Gulf region, aiming to nurture and develop new businesses with growth potential.

SVC’s Role in Boosting Saudi Startups

Additionally, as a subsidiary of the National Development Fund’s SME Bank, SVC plays a key role in securing funding. That funding focuses on startups and SMEs, from the pre-seed stage through to pre-IPO. Over the years, SVC has backed 50 private capital funds, which have in turn supported hundreds of startups and entrepreneurial ventures.

Startup Landscape in Saudi Arabia

Furthermore, Saudi Arabia’s startup ecosystem has been growing rapidly. This was driven by government initiatives to diversify the economy beyond oil. SVC, as a government-backed fund, is central to this effort. The government is stimulating investment in sectors such as technology, e-commerce, and fintech. These investments are crucial in driving innovation and job creation within the Kingdom.