Riyadh-- Saudi Venture Capital (SVC) announced the launch of the "Investment in Pre-IPO Funds" product and signed a memorandum of understating with Tadawul during the Saudi Capital Market Forum (SCMF) 2023.
The "Investment in Pre-IPO Funds" product launched by SVC, as part of the Investment in Fund Program, comes to enhance exit opportunities through the initial public offering (IPO) of shares. The product also seeks to support the growth of the venture capital and private equity ecosystem in Saudi Arabia.
The memorandum of understating aims to stimulate the listing of startups and small to medium-sized enterprises (SMEs) on the stock market through stimulating investment in pre-IPO funds and also through providing training to startups and SMEs wishing to be listed on the stock market.
SVC is a government investment company established in 2018 and is a subsidiary of the SME Bank, one of the development banks affiliated with the National Development Fund. SVC aims to stimulate and sustain financing for startups and SMEs from pre-seed to pre-IPO through the investment in funds and co-investment in startups. SVC invested in 35 funds that have invested in 525 companies through 904 deals.
Source: Saudi Press Agency