The Saudi Venture Capital Company (SVC), a subsidiary of the SME Bank, announced an increase in its investment capital to $1.6 billion (SAR 6 billion).
The increased capital is to be deployed for its startup investments in the coming years.
SVC has also launched its new brand identity which reflects the strategic growth of the fund in developing its investment products and enhancing its role in financing startups and SMEs.
The fund promotes the startup ecosystem in the country with its pre-seed to pre-IPO investments in funds and co-investment in startups.
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