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Saudi SVC Company to achieve record growth rates

Saudi SVC Company to achieve record growth rates

The impact report of the Saudi Venture Investment Company, issued last week, revealed its contribution to achieving record growth rates in all indicators related to the sector.

The report indicated that the venture capital system in the Kingdom achieved a growth of 770% of the total value of investments, to reach two billion and 55 million riyals in 2021, compared to 236 million in 2018, when the Saudi Venture Investment Company was founded and launched, according to the sources of the Magnit platform specialized in data.

The report revealed an increase in the number of investors in Saudi startups by 192%, reaching 76 in 2021, compared to only 26 in 2018, and the growth of the number of deals in Saudi startups to reach 139 deals in 2021, achieving an increase of 148% over the base year 2018, the sector recorded 56 deals.

The report indicated that the total investments of the Saudi Venture Investment Company through all of its programs amounted to one billion and 226 million riyals, while the total investments, including partners, were estimated at 6.5 billion riyals.

The number of funds in which the company invested in 83 Saudi startups through 147 deals so far. Note that the investment period of the funds is up to five years, including several sectors such as e-commerce, financial technology, information technology and solutions, education, delivery, and transportation.

The report showed the success of the company’s strategy over the past three years in increasing the number of investors in Saudi startups, encouraging existing and new financial companies to establish funds specialized in venture capital, contributing to bridging funding gaps and motivating existing investors to invest in startups through the investment program.

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