Saudi Venture Capital Invests in $150 Million Global Ventures III Fund to Boost MENA Startups

Saudi Venture Capital (SVC) has invested in the Global Ventures III Fund, an early-stage venture capital initiative managed by the Dubai-based firm Global Ventures. The fund exceeds $150 million and will focus on backing startups in key sectors such as supply chain technology, agritech, enterprise SaaS, and emerging technologies, including AI and deep tech. The fund aims to support innovation and technological growth across these dynamic regions by concentrating on these sectors.

The Global Ventures III Fund will focus primarily on technology and tech-enabled industries and target opportunities in Saudi Arabia, the broader MENA region, and Sub-Saharan Africa.

The Global Ventures III Fund will focus its investments on technology and tech-enabled sectors, primarily targeting markets in Saudi Arabia, the MENA region, and Sub-Saharan Africa.

This investment is expected to drive SVC’s venture funding for Saudi-based startups, particularly at their early stages. Through its Investment in Funds Program, SVC aims to enhance support for startups and small to medium enterprises (SMEs) throughout their growth phases, from pre-seed to pre-IPO.

Dr. Nabeel Koshak, CEO and Board Member at SVC, emphasized that collaboration with Global Ventures is key to their mission of fostering venture capital activity in the Kingdom. He explained, “Our investment in the venture capital fund by Global Ventures is part of SVC’s Investment in Funds Program, in alignment with our strategy to catalyze venture investments by fund managers investing in Saudi-based startups, especially during their early stages.”

Noor Sweid, Founder and Managing Partner at Global Ventures, expressed pride in the ongoing partnership with SVC, noting the potential in the Saudi market. “We are proud of our deep and continued partnership with SVC, and the investment underscores our commitment to enabling and building the Saudi Arabian VC and startup ecosystem,” said Sweid. “The market opportunity remains vast, with exceptional founders leveraging emerging technologies to create platforms with great potential.”

Established in 2018, Saudi Venture Capital (SVC) is a subsidiary of the SME Bank, part of the National Development Fund (NDF). SVC’s mission is to stimulate and sustain financing for startups and small—to medium-sized enterprises (SMEs) across all growth stages, from pre-seed to pre-IPO. The company plans to invest up to $2 billion through various private capital funds, including venture capital, private equity, and venture debt, while also directly co-investing in startups and SMEs.

Global Ventures is a leading venture capital firm focused on emerging markets across Africa and the Middle East. Since its founding, Global Ventures has invested in over 60 companies across 10 markets, with a deliberate focus on sectors like supply chain technology, energy management, fintech, digital health, EdTech, and agritech. The firm seeks to back mission-driven founders leveraging technology to transform these regions and address critical challenges affecting millions of lives globally.