The Saudi Venture Capital Company (SVC) announced an investment in the Venture Debt Fund, run by the Partners for Growth Company (PFG).
PFG is one of the directors of international funds and is known for its expertize in offering venture debt tools for startups, and small and medium-sized enterprizes (SME).
The fund will focus on offering venture debt tools for startups, and SMEs, known for their quick growth rates in the technical, financial technology, healthcare and biological sciences fields.
SVC CEO and Board Member Nabeel Koshak noted that investing in the Venture Debt Fund with PFG is part of the company’s program to invest in funds so as to bridge the financing gap in the venture debt system.
Koshak pointed out that funds that offer venture debt tools provide financing solutions for startups, and SMEs known for their quick growth rates in a bid to contribute to avoiding the reduction of ownership of current founders and investors.