SVC Invests $30M in Olive Rock Equity Fund

Sanaa Hasan March 14, 2024

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SVC Invests $30M in Olive Rock Equity Fund — Saudi Venture Capital (SVC) has announced a significant investment of $30 million in the private equity fund managed by Olive Rock Partners.

Saudi Venture Capital (SVC) has announced a significant investment of $30 million in the private equity fund managed by Olive Rock Partners. This investment underscores SVC’s commitment to actively engaging in technology-driven acquisition operations within the private equity sphere.

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Agreement Signatories

The agreement was formally signed by Dr. Nabeel Koshak, who serves as the CEO and board member of SVC, in conjunction with Mahend Gubb, the founding partner of Olive Rock Partners. Their signatures mark the initiation of a promising collaboration between the two entities.

Witnessed Signatures

The signing ceremony was attended by key figures from both SVC and Olive Rock Partners. Noura Al-Sarhan, CEO of Investments at SVC, and Haifa Al-Moqbel, Deputy CEO of Investments, were present to witness and endorse the agreement. Additionally, Abdullah Shahin, co-founder of Olive Rock Partners, lent his signature, further solidifying the partnership.

Investment Strategy

Dr. Nabil Kushk elucidates that this investment aligns seamlessly with SVC’s overarching fund investment program which is designed to bolster small and medium enterprises (SMEs) operating in strategic sectors. Furthermore. SVC also aims to foster sustainable growth and innovation within the Saudi Arabian business landscape.

Partner’s Perspective

Expressing appreciation for SVC’s investment, Mahend Gubb emphasized the pivotal role of private equity partnerships in catalyzing the growth of SMEs across Saudi Arabia. Moreover, both SVC and Olive Rock Partners aspire to drive meaningful economic development and empower emerging businesses.

About SVC

Founded in 2018, SVC operates as an investment company under the Small and Medium Enterprises (SME) Bank. Its primary objective is to provide sustainable financial support to startups and SMEs. SVC plays a vital role in nurturing the growth of the SME sector.

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