RIYADH: The Saudi Venture Capital Co. has announced investment in Sadu Capital’s early stage fund that aims to invest in fast-growing technology companies in the Kingdom and the Middle East.
Licensed by the Capital Market Authority, the fund’s size is $27 million, Sadu Capital Chief Executive Officer, Quasi Al-Saif, told Arab News.
The early-stage Sadu Fund invests in companies in the pre-incorporation, incorporation and investment round “A” stages, according to a statement issued on Sunday.
It focuses on investing in entrepreneurs who provide their services and products to the corporate sector (B2B).
During 2021, Saudi Arabia saw a 270 percent jump in the value of bold investments. The number of deals grew by 54 percent compared to the year earlier.
This comes within Saudi Venture Capital’s program aimed at stimulating and supporting investment in emerging companies, according to its Chief Executive Officer, Nabeel Koshak.
Koshak reiterated his company’s keenness to stimulate the venture capital environment in the Kingdom, and to cover the current financing gaps for emerging companies.
