Saudi Venture Capital (SVC), an initiative of the Social Development Bank in Saudi Arabia, has announced its investment in the Artal Growth Opportunities Fund, managed by Artal Capital, a private equity fund licensed by the Capital Market Authority.
The fund aims to support companies in growth stages, focusing on markets in Saudi Arabia and the GCC region.
The Artal Fund previously led a $60 million investment round in Seera, a car rental services company, last year.
This investment aligns with SVC’s strategy to support startups and growth-stage companies, fostering the entrepreneurship ecosystem in the Kingdom.
