Saudi Venture Investment Co. launches initiative to support startups

SVC has investments worth $293.2mln in 20 funds

Image used for illustrative purpose. Saudi riyal.

Image used for illustrative purpose. Saudi riyal.

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RIYADH: The Saudi Venture Investment Co. has launched the “Investment in Accelerator Funds and Startup Studios" initiative, the Saudi Press Agency reported on Monday.

It is part of the company’s efforts to support startups in the Kingdom in the seed and pre-seed phases.

SVC has investments worth SR1.1 billion ($293.2 million) in 20 funds.

The company has supported around 116 startups since its establishment in 2018 till the end of the third quarter of 2021.

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