Saudi Venture Capital (SVC) announced its decision to invest $15 million in Saqr Fund II, a venture capital fund managed by Vision Ventures.
As detailed in the press release, Saqr Fund II aims for a total size of $90 million and will focus on early-stage startups, ranging from pre-seed to pre-Series B, with a sector-agnostic strategy in Saudi Arabia and the broader MENA region.
Read more: Saudi Arabia takes the lead in MENA venture capital funding
Dr. Nabeel Koshak, CEO of SVC and a member of its board, mentioned that their investment in Vision Ventures’ venture capital fund aligns with SVC’s Investment in Funds Program, which aims to stimulate venture investments and lower the fundraising barriers for fund managers seeking to support high-growth startups in Saudi Arabia across various stages of development.
Additionally, Kais Al-Essa, founding partner and CEO of Vision Ventures, expressed his appreciation for SVC’s ongoing support of its venture capital initiatives. He conveyed pride in having SVC as a prominent investor once more and emphasized Vision Ventures’ strong track record of delivering notable performance and returns that attract investors.
Furthermore, with its entrepreneurial expertise, Vision Ventures excels at identifying, collaborating with, and nurturing startup teams to achieve success, reflecting its commitment and proven history in the venture capital landscape.
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