Saudi Venture Capital (SVC), a subsidiary of the Saudi Arabian SME Bank, announced a strategic investment of $30 million into Olive Rock Partners Fund I. This regional private equity fund focuses on established mid-sized companies with promising growth potential. Olive Rock Partners specifically targets businesses that benefit from favorable macroeconomic trends, strong demographics, and strategic geographic positioning, along with those that leverage technological advancements.
This collaboration aligns with SVC’s ongoing efforts to stimulate and sustain funding for startups and small and medium-sized enterprises (SMEs). Dr. Nabeel Koshak, CEO of SVC, emphasized that the investment supports their aim to nurture businesses across various development stages, particularly in sectors deemed crucial for the country’s economic growth.
Muhannad Qubbaj, Founding Partner at Olive Rock Partners, expressed his appreciation for the investment and the potential for a long-lasting partnership. He pointed towards the growing significance of private equity collaborations in Saudi Arabia. These partnerships are expected to act as a catalyst for propelling SME growth and contributing to the expansion of the nation’s overall landscape for direct investments.
Established in 2018, SVC plays a vital role in bridging the funding gap for startups and SMEs. They achieve this by strategically investing in relevant funds while also directly supporting businesses at various stages of development, ranging from pre-seed funding to pre-initial public offering (IPO) stages.
, a subsidiary of the Saudi Arabian SME Bank, announced a strategic investment of $30 million into Olive Rock Partners Fund I.){kind=link}