The investments of the Saudi Venture Investment Company in funds and start-up companies exceed one billion and 100 million riyals

Riyadh - The Saudi Venture Investment Company announced the launch of the investment product in accelerators funds and start-up studios, as part of the fund investment program; To promote the building and generation of start-up companies capable of rapid growth.

The investment product in accelerators funds and startup studios comes from the company to support investment in the seed and pre-seed stages, which are stages in which the risk is high. In an effort to fill a funding gap that resulted from the focus of venture capital funds and investors to fund start-up companies, from early to advanced stages.

The investments of the Saudi Venture Investment Company in funds and start-up companies exceeded one billion and 100 million riyals, while the number of Venture Investment Funds and Growth Funds in which it was invested reached 20, from the start of the company's business until the end of the third quarter of 2021 AD.

The venture capital system in the Kingdom has witnessed rapid growth over the past few years, as a result of the emergence of many innovative entrepreneurs, venture capital funds, and angel investor groups, in addition to the availability of a sophisticated regulatory and legislative environment supported by effective government programs.

Magnet's Venture Investment Report for the first half of 2021 revealed that the volume of venture capital investment in the Kingdom increased by 65%.

The report indicated that Saudi Arabia achieved record levels in the value of venture capital during the first half of 2021, as it accounted for 14% of the total value of investments granted in the Middle East and North Africa region, which led to the Kingdom’s rise to second place in terms of the share in the total value of venture capital. In the Middle East and North Africa, acquiring 22% of the deals in the region.