The Saudi Venture Capital Company (SVC) has invested $150 million in the Middle East Venture Fund IV, managed by Middle East Venture Partners (MEVP).
The fund aims to support emerging technology companies with high growth potential, with a focus on achieving a positive and sustainable impact on various sectors of the Saudi economy.
It will enable these companies to expand and mature through various stages, starting from the founding stage, through advanced growth stages such as Series A and Series B, all the way to the initial public offering (IPO) or exit (EXIT). The investment aims to build technology companies at the local and regional levels.
Dr. Nabil Koshak, CEO and Board Member of SVC, confirmed that this investment comes within the framework of the company’s strategy to support funds targeting Saudi startups in their early stages, which contributes to their growth and development to advanced levels.
MEVP Venture Capital has been operating in the Saudi market since 2012. Over the past decade, it has invested more than $50 million in a number of the Kingdom’s leading tech startups, creating more than 12,000 job opportunities. These investments helped attract $1.1 billion in joint investments, boosting FDI flows into the Kingdom.
