Saudi Venture Capital commits $20M to BECO Capital's Booster Fund IV

Saudi Venture Capital (SVC), a subsidiary of the SME Bank part of the National Development Fund, has announced a substantial investment of $20 million in Booster Fund IV. This fund is managed by BECO Capital, an early-stage venture capital firm headquartered in the Gulf region with a total of $495 million in assets under management across four funds. The Booster Fund IV is sector-agnostic and primarily focuses on investments in early-stage companies within the Seed to Series A lifecycle, aiming to pioneer or disrupt their respective categories, with a geographic focus on Saudi Arabia and the Gulf region. SVC’s strategic investment aligns with its broader initiative to financially support startup enterprises in Saudi Arabia, particularly those in their early growth stages. Dr. Nabeel Koshak, CEO and Board Member of SVC, emphasized the significance of this investment in propelling mediums that facilitate rapid growth and entrepreneurship within the region. Dany Farha, Co-Founder and Managing Partner of BECO Capital, expressed enthusiasm over the partnership, highlighting shared goals in fostering a vibrant ecosystem in Saudi Arabia. Established in 2018, SVC's mission is to bolster financing for SMEs and startups through multi-stage investments, ranging from pre-Seed to pre-IPO exits.