Saudi VC firm launches debt funds

Venture capitalRiyadh-based Saudi Venture Capital Company (SVC) has unveiled an investment vehicle focused on debt and venture capital funds. According to the firm, the move is designed to bridge financing gaps and stimulate investment in emerging companies. The launch comes on the back of approval from the Financial Sector Development (FSD) Program Committee. SVC was launched in 2018 as part of an FSD initiative to boost the small and medium enterprise (SME) sector. It has invested SR2.8 billion (US$75 million) in SMEs and startups to date. “Funds that offer debt instruments and venture capital instruments still represent a financing gap in the venture capital and growth investment system in the Kingdom, and debt instruments and venture capital instruments have emerged globally as an extension of the evolution of the venture capital and growth investment system,” said Nabeel Koshak, chief executive at SVC. ©2021 funds global mena

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