Riyadh, Saudi Venture Capital Company (SVC) released today its “Impact Report,” which revealed its contribution to achieving record growth rates. The report highlighted SVC’s impact on the private capital ecosystem (Venture Capital (VC), Private Equity (PE), Venture Debt, and Private Debt) in the Kingdom since the company’s establishment in 2018.

It revealed that SVC’s total committed investments since its inception have amounted to $0.7 billion, while the total investments, including partners, are estimated at $3.6 billion.

SVC invested in 40 funds that have subsequently invested in 700+ startups and SMEs so far, including several vital sectors such as e-commerce, fintech, healthcare, education technologies, transport, and logistics.

The report revealed that SVC’s strategy contributed to the Kingdom’s achievement of first rank across MENA for the first time in terms of the amount of VC funding in 2023. This achievement reflects the development Saudi Arabia is witnessing in various economic and financial s
ectors in light of the Saudi Vision 2030 and its goals to strengthen the national economy.

The report also revealed that VC funding deployed into Saudi Arabian startups grew 21 times to a record high of $1.4 billion in 2023, compared to $65 million in 2018.

Furthermore, the impact report showed that SVC’s strategy contributed over the past five years to increasing the number of investors in Saudi startups and SMEs, encouraging existing and new financial companies to establish VC and PE funds, and motivating regional and global funds to invest in Saudi startups and SMEs.

SVC CEO and Board Member Dr. Nabeel Koshak commented on the report, saying: “We, at SVC, have no doubt that this is only the beginning and are committed to further stimulate the private capital ecosystem in Saudi Arabia by launching required investment programs and products that are based on the analysis of ecosystem’s needs and following regional and global working models. This will stimulate private investors to provide support in turn fo
r startups and SMEs to be capable of fast and high growth, which leads to diversifying the national economy and achieving the goals of the Saudi Vision 2030”.

Source: Saudi Press Agency