Saudi VC firm launches pre-IPO investment fund

Saudi Venture Capital (SVC) has partnered with the Saudi stock exchange for an investment product targeted at the pre-IPO fund.

The two organisations signed an MoU at the recently held Saudi Capital Market Forum.

The Investment in the Pre-IPO fund is part of Saudi Arabia’s Investment in Fund programme and is designed to boost interest in the kingdom’s IPO market as well as the venture capital and private equity sectors.

SVC, which is a state-backed investment company formed in 2018, also hopes the fund launch will stimulate more interest in listings and flotations among local businesses and corporates.

According to SVC, it has invested in 35 funds which have themselves invested in 525 companies through more than 900 deals.

©2023 funds global mena

Related Articles