Saudi Venture Capital Company (SVC) invests in the SEEDRA Ventures Fund II to back tech startups in Saudi Arabia

Saudi Venture Capital Company (SVC) has announced a significant investment in SEEDRA Ventures Fund II, a venture capital fund dedicated to supporting early-stage, high-growth technology startups in Saudi Arabia. This initiative aligns with the country's Vision 2030 strategy, which aims to diversify the economy and foster innovation.¹⁴

SVC, established in 2018 as a subsidiary of the SME Bank, focuses on stimulating financing for startups from pre-seed to pre-IPO stages. Nora Alsarhan, CEO of SVC, emphasized the importance of early-stage venture capital, stating, “Early-stage venture capital investment is where Saudi Arabia's founders meet their first institutional partners, and the depth of that segment shapes what follows.” This investment is expected to enhance the availability of specialized capital for local tech founders.

The SEEDRA Ventures Fund II targets a range of sectors, including artificial intelligence (AI), fintech, and proptech, and has already seen strong demand, leading to its oversubscription. Haitham Alforaih, Managing Partner of SEEDRA Ventures, remarked, “SVC's investment, alongside the strong demand that resulted in Fund II being oversubscribed, reinforces our conviction in the market and our ability to identify exceptional entrepreneurs early in their journey.” Through this partnership, SVC aims to provide not just capital, but also expertise and strategic access to a network of investors, thereby supporting the growth of promising startups in the region.²³

This investment marks a crucial step in bolstering the private sector's role in achieving the goals of Vision 2030, as SVC continues to back innovative entrepreneurs in Saudi Arabia.