Saudi Exchange, SVC in deal to stimulate investment

Saudi Exchange, SVC in deal to stimulate investment

The Saudi Exchange has signed a memorandum of understanding (MoU) with Saudi Venture Capital Company (SVC) to stimulate investment in early pre-IPO stage specialist funds that are managed by financial institutions in the private sector.

The MoU was signed on the second day of the annual Saudi Capital Market Forum 2023, held under the patronage of Muhammed El-Kuwaiz, the Chairman of the Capital Market Authority.

SVC is a government venture capital firm established in 2018 to support startups and SMEs in the kingdom by investing $1.5 billion through funds and co-investment in startups.

The Saudi Exchange will support startups and SMEs that intend to list in the kingdom by providing advisory services and training to help them better understand the dynamics of the Saudi capital market.

Meanwhile, the Saudi Tadawul Group signed an MoU with Clarity AI Information Technology, under which Clarity AI will provide its platforms and services to support listed issuers and investors in better understanding and analysing sustainability practices while monitoring performance across international and national ESG frameworks.

The AI platform has the capability to support both larger companies and those who are looking to begin their sustainability journey.

The collaborative agreement between Saudi Tadawul Group and Clarity AI will enable international investors