Riyadh, Saudi Arabia: Saudi Venture Capital (SVC) announced an investment of $30M in a private equity fund managed by General Atlantic, a leading global growth equity investor. General Atlantic pioneered the growth equity asset class more than four decades ago and has approximately $84 billion in assets under management inclusive of all products as of March 31, 2024.

The fund will focus on investing in high-growth, tech-enabled companies across five core sectors: Consumer, Financial Services, Healthcare, Life Sciences, and Technology.

Dr. Nabeel Koshak, CEO and Board Member at SVC, commented: “The investment in the private equity fund by General Atlantic is part of SVC’s Investment in Funds Program, and an implementation of its strategy related to attracting top global fund managers to invest in Saudi-based companies as well as stimulating investment for later stages.”

Bill Ford, Chairman and CEO of General Atlantic, said: “We are very proud to partner with SVC and broaden our commitment to Saudi Arabia. Vision 2030 sets the stage for a period of dynamic growth and innovation in Saudi Arabia, which will create attractive investment opportunities for our global investors. SVC is a highly strategic investor who will deepen our expertise in this important region.”

About SVC

SVC is an investment company established in 2018. It is a subsidiary of the SME Bank, part of the National Development Fund. SVC aims to stimulate and sustain financing for startups and SMEs from pre-Seed to pre-IPO through investment in funds and direct investment in startups and SMEs. Further information is available at www.svc.com.sa.  

About General Atlantic

General Atlantic is a leading global growth investor with more than four decades of experience providing capital and strategic support for over 520 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic has approximately $84 billion in assets under management inclusive of all products as of March 31, 2024, and more than 300 investment professionals based in more than 16 cities round the world. For more information on General Atlantic, please visit: www.generalatlantic.com.

Media Contact
Company Name: Saudi Venture Capital (SVC)
Contact Person: Dr. Osamah Alamri
Email: oalamri@svc.com.sa