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  • 07-08-21

    Saudi Venture Capital Company gives 75 funds startups since 2018

    (MENAFN) Asharq quoted CEO Nabeel Koshak as saying that Saudi Venture Capital Company (SVC) gave 75 startups since its beginning by in 2018 and none of them have failed.

    He further stated that SVC has SR2.8 billion (USD750 million) to invest and organized SR1 billion thus far.

    Koshak further declared that the company is concentrating on sectors that lack funding, such as the health and industrial sector, Koshak, saying that the company wants to eliminate the financing market gaps.

    Koshak also declared that there is not a single company that came on the point of failure among the startup companies given by SVC, and it is too early to review the failure, he added that it is normal for failures to stand at 50 percent.

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