TLDR:
Saudi Venture Capital invested $30 million in Olive Rock Partners Fund I, a private equity fund focusing on mid-market buyouts. This investment is part of SVC’s Investment in Funds Program aimed at supporting startups and SMEs.
Article Summary:
Saudi Venture Capital (SVC) recently announced a $30 million investment in Olive Rock Partners Fund I, a regional private equity fund specializing in mid-market buyouts. The subscription agreement was signed by SVC’s CEO, Dr. Nabeel Koshak, and Olive Rock Partners’ Founding Partner, Muhannad Qubbaj. This investment is part of SVC’s strategy to develop and sustain financing for startups and SMEs in key sectors.
Dr. Nabeel Koshak, CEO of SVC, highlighted the importance of this investment as part of SVC’s ongoing commitment to supporting startups and SMEs. Muhannad Qubbaj, Founding Partner at Olive Rock Partners, expressed gratitude for the investment and emphasized the potential impact of private equity partnerships in fueling growth in the SME sector in Saudi Arabia.
SVC, established in 2018 as a subsidiary of the SME Bank, focuses on providing financing for startups and SMEs through investment in funds and direct investments. The investment in Olive Rock Partners Fund I aligns with SVC’s goal of fostering growth and development in the startup and SME ecosystem.
