Saudi Venture Capital Backs $150 Million Global Ventures Fund

Saudi Venture Capital (SVC) has announced its commitment to Global Ventures III, an early-stage venture capital fund managed by Global Ventures. This new fund, valued at over $150 million, aims to finance emerging technology businesses in Saudi Arabia, the wider Middle East and North Africa (MENA), and Sub-Saharan Africa.

Global Ventures III will focus on startups specialising in Supply Chain Tech, Agritech, Enterprise SaaS, and advanced fields such as AI and Deep-tech. The goal is to empower ambitious founders who are creating innovative digital solutions.

Dr. Nabeel Koshak, Chief Executive Officer and Board Member at SVC, describes this investment as part of the organisation’s wider plan to spur funding opportunities for tech-focused Saudi startups. In his view, supporting emerging ventures during their early stages is key to growing a more dynamic business environment.

Meanwhile, Noor Sweid, the Founder and Managing Partner at Global Ventures, highlights how this new investment underlines the close relationship between SVC and Global Ventures. She notes that Saudi Arabia’s market potential is enormous, offering unique opportunities for startups developing next-generation platforms.

Established in 2018, SVC operates under the umbrella of the SME Bank, which itself is part of the National Development Fund. Through initiatives like Global Ventures III, SVC continues its broader mission of providing accessible funding channels for pre-Seed to pre-IPO startups and small businesses, helping to energise the region’s entrepreneurial ecosystem.