TLDR:
– Saudi Venture Capital invests SAR112.5m in General Atlantic PE fund
– The investment aims to bolster Saudi Arabia’s burgeoning technology ecosystem and support high-growth companies across key sectors
Saudi Venture Capital Company (SVC), a subsidiary of the Small and Medium Enterprises Bank (SME), has announced a significant investment of SAR112.5m in a private equity fund managed by General Atlantic, a global leader in private equity investments. The investment aims to bolster Saudi Arabia’s burgeoning technology ecosystem and support high-growth companies across key sectors. General Atlantic boasts a track record in growth-stage private equity investments and manages approximately $84bn in total assets. The focus of the newly established fund will be on channeling investments into high-growth, technology-enabled companies operating in consumer products, financial services, healthcare, life sciences, and technology sectors. This strategic alignment reflects SVC’s commitment to fostering innovation and driving economic growth in Saudi Arabia. The collaboration between SVC and General Atlantic represents a significant step towards enhancing the investment ecosystem in Saudi Arabia and accelerating the growth trajectory of technology-enabled companies in key sectors.
