SVC invests $30 million in Olive Rock Partners Fund I

SVC invests $30 million in Olive Rock Partners Fund I

Saudi Venture Capital Company (SVC) has pledged $30 million to the first fund of UAE-based private equity firm Olive Rock Partners, as part of SVC’s fund investment programme.

Rock Partners Fund I will focus on supporting Saudi SMEs in critical industries.

Founded in 2020 by Mohannad Qabaj and Abdullah Shahin, Olive Rock is an independent private equity firm based in Abu Dhabi Global Market (ADGM).

SVC, launched in 2018 as a subsidiary of the SME Bank, is an investment firm with a $2 billion investment in private capital funds.

Source: Startup Rise

Saudi Venture Capital Company (SVC) has declared that it has invested $30 million in the Olive Rock Partners Fund I, a regional private equity fund that supports buyout deals in mid-market companies that are supported technologically, regionally, and economically.

In the context of SVC’s fund investment programme, this action represents a critical strategic step towards improving financing for startups and small- and medium-sized businesses (SMEs) in the Kingdom. The programme’s goal is to encourage and assist in funding firms that are in the early stages of growth or expansion.

Mohannad Qabaj, co-founder of Olive Rock Partners, signed on behalf of the fund, while Dr. Nabil Koshak, CEO and board member of SVC, signed on behalf