- Saudi Venture Capital (SVC) has invested in Sadu Capital's $27 million VC fund focused on supporting and nurturing the growth of early-stage startups in Saudi Arabia and the wider Middle East region, particularly those offering business-to-business (B2B) solutions.
- Sadu Capita was founded earlier in 2021 by Qusai AlSaif.
Source: Arab News
The Saudi Venture Capital Co. has announced an investment in Sadu Capital’s early-stage fund that aims to invest in fast-growing technology companies in the Kingdom and the Middle East.
Licensed by the Capital Market Authority, the fund’s size is $27 million, Sadu Capital Chief Executive Officer, Quasi Al-Saif, told Arab News.
The early-stage Sadu Fund invests in companies in the pre-incorporation, incorporation and investment round “A” stages, according to a statement issued on Sunday.
It focuses on investing in entrepreneurs who provide their services and products to the corporate sector (B2B).
In 2021, Saudi Arabia saw a 270 per cent jump in the value of bold investments. The number of deals grew by 54 per cent compared to the year earlier.
This comes within Saudi Venture Capital’s program aimed at stimulating and supporting investment in emerging companies, according to its Chief Executive Officer, Nabeel Koshak.
Koshak reiterated his company’s keenness to stimulate the venture capital environment in the kingdom and to cover the current financing gaps for emerging companies.