Riyadh, February 05, 2024, The Saudi Venture Capital Company (SVC) celebrated its fifth anniversary, marking the occasion with an event attended by SVC's partners, including leaders of relevant government entities, investment fund managers, entrepreneurs, and the SVC team. Notably, the ceremony highlighted the Kingdom's top rank across the MENA region for the first time in terms of Venture Capital (VC) funding in 2023.
Nora Alsarhan, Chief Investment Officer at SVC, showcased the company's achievements since its inception and outlined future directions. Additionally, Haifa Almoqbil, Vice President of Investment at SVC, presented insights into regional and global VC market trends, comparing them to the positive position of the Kingdom's VC market.
Dr. Nabeel Koshak, CEO and Board Member of SVC, emphasized the strategic role of SVC in developing the VC ecosystem in Saudi Arabia. He attributed the Kingdom's leadership in the regional VC scene to the economic and investment evolution driven by government support, aligned with the goals of Saudi Vision 2030 to strengthen and diversify the national economy.
Koshak expressed gratitude to the government entities that launched supportive programs and initiatives, developed regulatory environments, and fostered an environment conducive to startup innovation. He also acknowledged the active investors and fund managers who supported startups at various growth stages, emphasizing that the success achieved is a result of collaboration within the integrated ecosystem and the dedication of innovative entrepreneurs.
