Saudi Venture Capital Fuels Growth with $150M Investment in MEVP's Fund

Saudi Venture Capital (SVC) has announced an investment in the Middle East Venture Fund IV, a $150 million venture capital fund managed by Middle East Venture Partners (MEVP). The fund’s objective is to foster technology startups in Saudi Arabia, supporting them from their inception through various growth stages up to potential IPOs or exits. SVC, a subsidiary of the SME Bank and part of the National Development Fund, aims to stimulate long-term financial support for startups and SMEs across Saudi Arabia. MEVP is a formidable player in the MENA region, with a sizable investment footprint, having already propelled several local startups into success. This strategic investment aligns with SVC's goals of nurturing early-stage companies to create significant economic and social impacts within the Kingdom. Additionally, MEVP’s historical achievement of creating high-quality jobs and attracting substantial foreign investment into Saudi Arabia underscores the potential benefits of this partnership. With more than 60 portfolio companies and a vast network across MENA, Sub-Saharan Africa, Pakistan, and Turkey, MEVP is well-positioned to drive significant growth and innovation in the region.