{"id":90585,"date":"2024-10-16T00:00:00","date_gmt":"2024-10-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/16\/svc-invests-usd-15-mn-in-new-saudi-startup-fund\/"},"modified":"2024-10-16T00:00:00","modified_gmt":"2024-10-16T00:00:00","slug":"svc-invests-usd-15-mn-in-new-saudi-startup-fund","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/16\/svc-invests-usd-15-mn-in-new-saudi-startup-fund\/","title":{"rendered":"SVC invests USD 15 mn in new Saudi startup fund"},"content":{"rendered":"

Saudi Venture Capital (SVC) committed USD 15 mn to<\/strong> Vision<\/a><\/strong>Ventures<\/a><\/strong>\u2019 Saqr <\/strong>Fund II<\/strong> which was established to back early-stage startups across the Kingdom and the region, according to a press release<\/a>. <\/p>\n

About the fund: <\/strong>Saqr Fund II \u2014 which is targeting a total fund size of USD 90 mn \u2014 will invest in local and regional pre-seed to pre-series B startups on a \u201csector-agnostic approach,\u201d the statement said. SVC is an anchor investor in the fund. <\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background <\/p>\n

and outside sources.)<\/p>\n

What they said: <\/strong>\u201cOur investment in the venture capital fund by Vision Ventures is part of SVC\u2019s Investment in Funds Program, in alignment with our strategy to catalyze venture investments and minimize fund-raising entry barriers for fund managers who are looking to invest in Saudi-based high-growth startups during their different growth stages.\u201d<\/p>\n

Meet SVC:<\/strong> Established in 2018, SVC is an investment management firm focused on investments in private capital funds, including venture capital, private equity and others with USD 2 bn<\/a> in assets under management. It is a subsidiary of the National Development Bank\u2019s SME Bank.<\/p>\n

\n

IN OTHER STARTUP NEWS-<\/p>\n

Homegrown startup consultant and investment community <\/strong>Tawaref<\/a><\/strong> has acquired AI<\/strong> solutions provider <\/strong>Amaana.ai<\/a><\/strong>, <\/strong>as it looks to boost its digital offerings for startups and investors, according to a press release<\/a>. The acquisition leverages Amaana.ai\u2019s AI-powered solutions and experience in automated licensing and banking tasks to add new services to Tawaref\u2019s portfolio, including company formation, legal and accounting services, and registration via the government\u2019s Saudi Landing Program. The statement did not disclose the value of the transaction. <\/p>\n","protected":false},"excerpt":{"rendered":"

Saqr Fund II targets a total fund size of USD 90 mn<\/p>\n","protected":false},"author":1,"featured_media":90586,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2556],"tags":[10,179,5],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-90585","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-enterpriseam-ksa","tag-startup-watch","tag-venture-capital","wpautop","entry"],"acf":{"mongo_id":"85dfc867-0345-41f0-af0c-7b919702a9a4","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/1746.jpg","photo_position":"above","homepage_title":"","full_issue_title":"SVC invests USD 15 mn in new Vision Ventures\u2019 Saqr Fund II","related_issue":[90572],"teaser":"Saqr Fund II targets a total fund size of USD 90 mn","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.56543a3d-ae72-478f-87ce-00009aca93b5.mp3"},"yoast_head":"\nSVC invests USD 15 mn in new Saudi startup fund - 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