Saudi Venture Capital invests $30 million in Olive Rock Private Equity Fund

Saudi Venture Capital (SVC) announced an investment of $30 million in a private equity fund, managed by “Olive Rock Partners,” as the fund focuses on actively investing in technologically feasible acquisitions.

The agreement was signed by Dr. Nabil bin Abdul Qadir Koshak, CEO and member of the Board of Directors of SVC, and Muhannad Qubbaj, co-founder of Olive Rock Partners.

The signing of the agreement was witnessed by SVC’s Noura Al-Sarhan, Chief Investment Officer, and Haifa Al-Muqbel, Vice President of Investment. Abdullah Shaheen, the founding partner, also witnessed the signing of Olive Rock Partners.

Dr. Nabil Koshak explained that investing in the private equity fund with “Olive Rock Partners” comes within the fund investment program implemented by the company, and is an extension of its series of investments and strategy to develop and sustain financing for emerging companies and small and medium enterprises, especially in strategic sectors.

For his part, Muhannad Qubbaj said: “We thank SVC for the investment and trust, and we are excited about the fruitful partnership between the two parties. We would also like to emphasize our complete conviction that partnerships in the field of private equity in the Kingdom will increasingly become essential in promoting the growth of the small and medium enterprises system and in promoting expansion.” And the development in the general investment landscape.”

It is worth noting that SVC is considered an investment company established in 2018 and affiliated with the Small and Medium Enterprises Bank, affiliated with the National Development Fund. SVC aims to stimulate and sustain financing for emerging companies and small and medium enterprises from the pre-founding stage to for the initial public offering by investing in Funds and direct investment in emerging companies and small and medium enterprises.