SVC invests in SEEDRA Ventures Fund II to back Saudi tech startups

Saudi Venture Capital (SVC) has recently committed to investing in SEEDRA Ventures Fund II, a venture capital fund overseen by SEEDRA Ventures. This strategic move aims to foster early-stage, high-growth technology startups in the Kingdom of Saudi Arabia. SEEDRA Ventures, established in 2019, targets sectors such as artificial intelligence (AI), fintech, proptech, SaaS, logistics, and other tech-driven industries, with a particular emphasis on startups at the early stages of their growth trajectory.

Through this investment, SVC seeks to bolster access to institutional capital for Saudi founders, in accordance with its broader objective of supporting startups from the pre-seed stage to pre-IPO.

Nora Alsarhan, CEO at SVC, expressed her viewpoint on the significance of early-stage venture capital investment for Saudi Arabian entrepreneurs. She highlighted that this type of investment marks the initial encounter between founders and institutional backers, thereby playing a pivotal role in shaping the subsequent trajectory of these businesses.

SVC's investment in SEEDRA Ventures Fund II, she emphasized, serves to bolster the availability of specialized capital for Saudi technology founders and fortifies the private-sector engine of Vision 2030.

Speaking on the matter, Haitham Alforaih, Managing Partner of SEEDRA Ventures, underscored the ambition and potential of Saudi Arabian founders and the promising venture opportunities within the region. He further disclosed that the oversubscription of Fund II underscored SVC's confidence in the market and their capacity to identify exceptional entrepreneurs in their nascent stages.

Under Fund II, SVC intends to collaborate with these founders, providing them with capital, expertise, and strategic access to its extensive network. Yet, the company maintains a disciplined approach to delivering attractive long-term returns for its investors.