Saudi Venture Capital launches investment in debt, venture debt funds

21/09/2021 Argaam

Saudi Venture Capital Co. (SVC) launched investment in debt funds and venture debt funds, after obtaining the approval of the Financial Sector Development Program (FSDP), one of the Kingdom's Vision 2030 Realization Programs. 

 

Investments in startups and small and medium enterprises (SMEs) increase via venture capital as well as growth funds, which are backed by government programs such as SVC. However, these funds still represent a financing gap in the venture capital industry in the Kingdom, Chief Executive Officer (CEO) Nabeel Koshak said in a statement.

 

Debt and venture debt funds provide financing solutions for fast-growing startups to help growth, said Mohammed Almalki, SVC board member.

 

SVC is a government venture capital established in 2018 by the Small and Medium Enterprises General Authority (Monsha'at) to stimulate venture investments by investing in funds as well as co-investing with angel groups for the primary goal of minimizing equity financing gaps for startups and SMEs.

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