Monday, 25 October 2021 03:48 GMT

Saudi Venture Investment Company emphasizes its rapid growth in past 3 year

(MENAFN)Al Eqtisadiah quoted the Saudi Venture Investment Company (SVC) as saying that it has investments valued at SR1.1 billion (USD293.2 million) in 20 funds.

It further declared that some 116 Saudi startups were backed since the company was found in 2018 until the end of the third three months of 2021.

In April, SVC inked letters of commitments with six VC funds, in the financial sector conference, in cooperation with Derayah Financial, Raed Ventures, STV, Gobi 8Point Capital, Merak Capital, Impact Capital.

The company is planning to approve investing in investment funds that is going to be set by fund managers through those letters.

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