Saudi Venture Capital Backs Global Ventures' $150m Third Fund for MENA and Africa Startups
SVC committed to Global Ventures III, an early-stage fund exceeding $150m targeting supply-chain tech, agritech, enterprise SaaS and AI across Saudi Arabia, the wider MENA region and Sub-Saharan Africa.
Saudi Venture Capital (SVC) said it had invested in Global Ventures III, an early-stage fund managed by the UAE-based firm Global Ventures with a size exceeding $150m. The fund targets technology and tech-enabled sectors across Saudi Arabia, MENA and Sub-Saharan Africa.
SVC framed the commitment as part of its Investment in Funds Program, which backs fund managers investing in Saudi-based startups at their early stages. Global Ventures said the vehicle would focus on supply-chain technology, agritech, enterprise SaaS and emerging technologies including artificial intelligence.