Riyadh, Saudi Arabia - Saudi Arabia achieves first rank across MENA for the first time in terms of the amount of Venture Capital (VC) funding in 2023, according to MAGNiTT, the MENA-based venture data platform. The Kingdom captured the highest share of total VC funding in the year, accounting for...
Saudi Venture Capital invests $5m in VentureSouq fintech fund
Riyadh, Saudi Arabia - Saudi Venture Capital (SVC) has made a $5 million investment in a fintech fund managed by VentureSouq (VSQ), primarily targeting early-stage fintech startups. The SVC, established in 2018, is a government investment company and a subsidiary of the SME Bank, one of the development banks affiliated...
Saudi Arabia’s SVC invests $30m in Bedaya Fund II
RIYADH, SAUDI ARABIA - Saudi Venture Capital (SVC) announced its investment of US$30 million in Bedaya Fund II, which is managed by Shorooq Partners. The fund will mainly back early-stage startups with a focus on several sectors. The subscription agreement was signed by Dr. Nabeel Koshak, CEO and Board Member...
Saudi SME Bank signs $266m deals with fintech firms, investment funds
Riyadh, Saudi Arabia – The SMEs Bank system of the National Development Fund has signed 20 agreements valued at more than SAR 1 billion ($266 million) with several financial technology entities, local and international investment funds and e-commerce platforms. These deals include 10 agreements and MoU by the SMEs Bank...
