Saudi Venture Capital Invests $15M in Vision Ventures’ Saqr Fund II
Saqr Fund II will invest in early-stage startups in Saudi Arabia and MENA, supporting innovation from pre-seed to pre-series B.
Saudi Venture Capital (SVC) has invested $15 million in Saqr Fund II, a venture capital fund managed by Vision Ventures. The fund, with a target size of $90 million, is focused on early-stage startups across various sectors, from pre-seed to pre-series B stages.
This strategic investment is in line with SVC’s mission to stimulate venture capital investments and reduce fundraising challenges for fund managers, particularly in Saudi Arabia and the wider MENA region.
Vision Ventures, a sector-agnostic firm that has been investing in early-stage tech startups since 2016, plays a critical role in supporting the region’s entrepreneurial ecosystem. Through hands-on experience and dedicated support for founders, Vision Ventures aims to foster the growth of startups, providing them with both financial backing and strategic guidance.
SVC, a subsidiary of SME Bank under the National Development Fund, was established in 2018 to support financing opportunities for startups and SMEs in Saudi Arabia. Saqr Fund II will prioritize investing in startups based in Saudi Arabia and the MENA region, continuing Vision Ventures' track record of fostering innovation and entrepreneurship.
