– SVC invests $30 million in Olive Rock Partners Fund I, boosting support for buyout deals in mid-market companies.
– The investment marks a strategic move within SVC’s fund investment program, aimed at enhancing financing options for startups and SMEs in the Kingdom.
– Collaboration between Olive Rock Partners and SVC signifies the growing importance of private equity partnerships in Saudi Arabia, supporting SME development and advancing the investment landscape.
Saudi Venture Capital Company (SVC) has announced a $30 million investment in the Olive Rock Partners Fund I, a regional private equity fund focused on supporting buyout deals in mid-market companies with strong technological, regional, and economic foundations.
This investment signifies a crucial strategic move within SVC’s fund investment program, aimed at enhancing financing options for startups and small- to medium-sized enterprises (SMEs) in the Kingdom.
The program’s objective is to promote and facilitate funding for firms in the early stages of growth or expansion.
Mohannad Qabaj, co-founder of Olive Rock Partners, represented the fund during the signing, while Dr. Nabil Koshak, CEO and board member of SVC, represented the company.
Present at the signing ceremony were Abdullah Shahin, co-founder of Olive Rock Partners; Haifa Al-Muqbil, deputy head of investments; and Nora Al-Sarhan, investment manager at SVC. Nabil Koshak, CEO of SVC, emphasized the importance of this investment in line with the company’s strategy to expand and enhance funding for SMEs and startups, especially in vital industries.
Koshak stated, “This investment is part of our fund investment program, continuing the series of investments made by the company in this field.”
Mohannad Qabaj, co-founder of Olive Rock Partners, expressed appreciation for the successful collaboration between the two organizations and thanked SVC for their investment and confidence.
According to Qabaj, private equity partnerships will play an increasingly significant role in Saudi Arabia, supporting SME development and advancing the investment landscape overall.
Through this investment, SVC demonstrates its commitment to fostering innovation and entrepreneurship in the Kingdom, particularly in bolstering economic infrastructure and enhancing the business environment for startups and SMEs.
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