Riyadh - Sharikat Mubasher: The Saudi Venture Capital Company (SVC), a leading investment firm in the Kingdom and the region, invested $15 million in Saqr Fund II, a venture capital (VC) fund managed by Vision Ventures (VV), one of the leading investment companies in the startup ecosystem of the Middle East and North Africa (MENA) region.

Saqr Fund II, with a target size of $90 million, will invest in early-stage startups from pre-seed to pre-series B with a sector-agnostic approach in Saudi Arabia and the MENA region, a recent statement unveiled.

Nabeel Koshak, CEO of SVC, commented: “Our investment in the venture capital fund by Vision Ventures is part of SVC’s Investment in Funds Program, in alignment with our strategy to catalyze venture investments and minimize fund-raising entry barriers for fund managers who are looking to invest in Saudi-based high-growth startups during their different growth stages.”

On his part, Kais Al-Essa, Founding Partner and CEO of VV, affirmed that the company’s ability to provide investors with exceptional performance and returns continues to attract investors along with exceptional anchor investors such as SVC.

“Due to our entrepreneurial beginnings, we are best positioned to identify, partner with, and foster the growth of multiple startup and founder teams toward amazing results. We are passionate about what we do, and we have the track record to prove it,” Al-Essa concluded.

Vision Ventures is a sector-agnostic VC firm that offers hands-on experience to assist founders in their journey and empower them to accelerate their companies’ growth and realize their dreams.