Saudi's Vision Ventures Draws $15m From SVC to Anchor $90m Saqr Fund II
The Saudi Venture Capital Company returns as an anchor investor in the firm's second, sector-agnostic early-stage fund.
Vision Ventures, a Saudi early-stage venture capital firm, has secured a $15 million anchor commitment from the Saudi Venture Capital Company for its second fund, Saqr Fund II, which is targeting a $90 million total size. It marks the second time SVC has anchored a Vision Ventures vehicle.
The fund will invest across pre-seed to pre-Series B stages using a sector-agnostic strategy, backing startups in Saudi Arabia and the wider MENA region. The government-backed SVC has been a cornerstone limited partner across the Kingdom's venture ecosystem, seeding local fund managers as part of a national push to deepen the supply of risk capital for founders.
Vision Ventures pointed to its track record in courting investors, citing a partial exit from e-commerce software startup Salla that it said delivered a 225-times return. "Our ability to provide investors with exceptional performance and returns continues to attract investors along with exceptional anchor investors such as SVC," said chief executive Kais Al-Essa.
The commitment adds to a steady stream of fund-of-funds activity in Saudi Arabia, where SVC and other public institutions have been anchoring domestic managers to expand the capital available to early-stage technology companies.