Saudi Venture Capital (SVC) has announced its investment in SEEDRA Ventures Fund II, a venture capital fund managed by SEEDRA Ventures, an entity licensed by the Capital Market Authority of Saudi Arabia.
While sector-agnostic, the Fund is geared towards technology and tech-enabled startups, including Artificial Intelligence (AI), FinTech, and Proptech. The Fund primarily targets early-stage, high-growth startups.
Nora Alsarhan, CEO at SVC, said: “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. Our investment in SEEDRA Ventures Fund II supports a manager focused squarely on backing Saudi technology founders at that critical stage, expanding the specialized capital available to them and reinforcing the private-sector engine of Vision 2030.”
“Saudi Arabia is producing some of the most ambitious founders and compelling venture opportunities in the region. 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 Fund II, we will partner with founders as they scale their businesses by providing capital, expertise, and strategic access to our network, while maintaining a disciplined approach to delivering attractive long-term returns for our investors,” said Haitham Alforaih, Managing Partner of SEEDRA Ventures.
SVC is an investment company established in 2018. It is a subsidiary of the SME Bank, part of the National Development Fund. SVC aims to stimulate and sustain financing for startups and SMEs from pre-Seed to pre-IPO through investment in funds and direct investment in startups and SMEs.
Source: Riyadh Daily