Saudi Venture Capital Invests $30 Million in Olive Rock Partners
The Abu Dhabi-based private equity firm supports buyout deals for mid-market companies, such as startups and SMEs.
Saudi Venture Capital Company (SVC) has announced an investment of $30 million in Olive Rock Partners, a regional private equity firm based in Abu Dhabi that supports buyout deals for mid-market companies. This investment represents a significant step for SVC in improving financing for startups and small and medium-sized enterprises (SMEs) in Saudi Arabia.
SVC was launched in 2018 as a subsidiary of the SME Bank, and maintains a portfolio of $2 billion in private capital funds. Investments and partnerships such as these are likely to become more prevalent in Saudi Arabia in the coming years, as domestic support for SMEs increases, particularly with the expansion and advancement of the Saudi and regional investment landscape as a whole.
Whilst large multinational companies often receive more attention, it is the growth in the number of SMEs and startups that often signals increased economic prosperity within a country. Support for these enterprises continues to grow within the Kingdom as it moves towards a more diversified economy, a keystone of Vision 2030.
