TLDR:
Key Points:
- Saudi Venture Capital (SVC) invests $30 million in Olive Rock Partners Fund I
- SVC aims to sustain financing for startups and SMEs
Saudi Venture Capital (SVC) has made a significant investment of $30 million in Olive Rock Partners Fund I, a regional private equity fund that focuses on mid-market buyouts with demographic, geographic, and technological advantages. Dr. Nabeel Koshak, CEO of SVC, highlighted that this investment is part of their strategy to support startups and SMEs in strategic sectors. Muhannad Qubbaj, Founding Partner at Olive Rock Partners, expressed gratitude for the investment and emphasized the importance of private equity partnerships in driving growth in the SME space.
SVC, established in 2018 as a subsidiary of the SME Bank, is dedicated to providing financing for startups and SMEs through fund investments and direct investments. This investment in Olive Rock Partners Fund I aligns with SVC’s mission to foster development and sustainability in the startup ecosystem.
This partnership between SVC and Olive Rock Partners signifies a step towards fueling the growth of startups and SMEs in Saudi Arabia and supporting the overall direct investment landscape in the region. The collaboration aims to create a fruitful relationship that will benefit both parties and contribute to the development of the startup ecosystem in the Middle East.
