This investment aligns with SVC's strategy to support private investment funds that back Saudi-based startups at various growth stages, from pre-Seed to pre-IPO.

SVC's commitment to the Middle East Venture Fund IV will nurture startups through various growth stages, aiming to create technology champions in the region.

The primary focus of these funds will be on high-growth sectors such as fintech, enterprise software, and B2B SaaS, particularly targeting early-stage startups.

Key sectors of interest for the fund include fintech and enterprise software, with a strong emphasis on the Saudi Arabian and UAE markets.

Raed Ventures, founded in 2016, has invested in over 50 companies, including notable names like Tabby, Salla, and Foodics, and is supported by leading regional investors.

Almajdouie noted the importance of continuing the partnership with SVC as an anchor investor, building on their previous collaboration successes.

Saudi Venture Capital (SVC) has announced a significant investment in Raed III L.P., an early-stage venture capital fund managed by Raed Ventures, focusing on tech-enabled startups in Saudi Arabia and the MENA region.

Dr. Nabeel Koshak, CEO of SVC, emphasized that the investment aims to accelerate the growth of these startups, diversify the Saudi economy, and contribute to the goals of Saudi Vision 2030.

Walid Mansour from MEVP highlighted that their previous investments contributed to creating over 12,000 jobs and attracting USD 1.1 billion in co-investments in Saudi Arabia.

Omar Almajdouie, Founding Partner at Raed Ventures, expressed enthusiasm for the partnership with SVC, highlighting its role as an anchor investor in Raed III and the success of their previous collaboration in Raed II.