The Saudi Venture Capital Company invests SAR 1.2bln

The Saudi Venture Capital Company invests SAR 1.2bln

Riyadh, Saudi Arabia: The “SVC Impact Report”, released today, revealed SVC’s contribution to achieving record growth rates in all VC ecosystem indicators in Saudi Arabia. The report highlighted the impact of SVC on the VC ecosystem in the Kingdom since the company’s establishment in 2018.

The SVC Impact Report revealed that the funding deployed into Saudi Arabian startups grew by 770% to a record-high of SAR 2.055 billion ($548 Million) in 2021 versus SAR 236 million in 2018, when SVC started operation, according to the venture data platform, MAGNiTT.

The report also showed that the number of investors in Saudi startups increased by 192%, reaching 76 in 2021, as compared to 26 investors in 2018. The number of VC deals in Saudi startups also grew by 148%, to a new high of 139 deals, as compared to 56 VC deals in 2018.

The report indicated that the total committed investments of SVC amounted to SAR 1.2 billion, while the total committed investments including partners is estimated at SAR 6.5 billion riyals. SVC invests in 23 funds that have invested in 83 Saudi startups through 147 deals so far, including several sectors such as e-commerce, fintech, information and communication technology, education, delivery, and transportation.

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