RIYADH: Saudi Venture Investment Co. has invested in a global specialty lending fund that focuses on offering venture debt instruments to high-growth startups, small and medium enterprises in sectors, such as technology, fintech, healthcare and life sciences.
The first venture debt fund that SVC is investing is managed by Partners for Growth, a California-based firm that provides venture and growth stage debt instruments to startups and SMEs, according to a statement.
“The investment in the venture debt fund by PFG is part of SVC’s Investment in Funds Program, and is to implement SVC’s latest strategy related to the launch of the ‘Investment in Venture Debt Funds’ product in order to fill the financing gaps in the venture capital ecosystem,” CEO said.
“Venture debt funds provide financing solutions to high-growth startups and SMEs to prevent equity dilution for founders and existing investors and allow startups and SMEs to achieve greater progress during their growth journey,” Nabeel Koshak added.
Established in 2018 by Monshaat as part of the Financial Sector Development Program, SVC is a government venture capital that contributes to the development of the VC ecosystem.
