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- Saudi Venture Capital Company (SVC) has committed $30 million to UAE-based private equity firm Olive Rock Partners’ first fund as part of SVC’s fund investment program.
- Rock Partners Fund I will focus on supporting Saudi SMEs in critical industries.
- Founded in 2020 by Mohanad Qabaji and Abdullah Shahin, Olive Rock is an independent private equity firm based in Abu Dhabi Global Market (ADGM).
- Founded in 2018 as a subsidiary of SME Bank, SVC is an investment company with $2 billion invested in private capital funds.
Source: Startup Rise
Saudi Venture Capital Company (SVC) announces $30 million investment in Olive Rock Partners Fund I, a regional private equity fund that supports acquisition transactions in mid-sized companies that are technologically, geographically and financially supported. did.
In the context of SVC’s fund investment program, this measure represents an important strategic step towards improving the financing of start-ups and small and medium-sized enterprises (SMEs) in the Kingdom. The goal of this program is to encourage and support funding for companies in the early stages of growth or expansion.
Mohanad Kabaji, co-founder of Olive Rock Partners, signed on behalf of the fund, and Dr. Nabil Koshak, CEO and director of SVC, signed on behalf of the company.
Abdullah Shahin, Co-Founder of Olive Rock Partners. The signing ceremony was attended by Haifaa Al Mukbil, Deputy Head of Investment at SVC, and Nora Al Sarhan, Investment Manager. Dr. Nabil Koshak, CEO of SVC, highlighted the importance of this investment, given the company’s plans to expand and improve financing for small businesses and startups, especially in key industries. did.
He said: “This investment is part of our fund investment program and represents a continuation of the series of investments we have made in this area.”
Mohannad Qabaj, co-founder of Olive Rock Partners, recognized the value of the successful collaboration between both organizations and thanked SVC for its investment and trust.
According to Kabaji, private equity partnerships will become increasingly important in Saudi Arabia as they support the development of small and medium-sized enterprises and the expansion and advancement of the overall investment environment.
By making this investment, SVC is demonstrating its dedication to fostering innovation and entrepreneurship in the Kingdom of Saudi Arabia, particularly building economic infrastructure and improving the business environment for start-ups and small and medium-sized enterprises.
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