SVC pledges $15 million to Vision Ventures’ Saqr Fund II
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Investment Announcement: Saudi Venture Capital (SVC) has committed $15 million to Vision Ventures’ Saqr Fund II, which targets early-stage firms in Saudi Arabia and the MENA region.
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Fund Specifications: Saqr Fund II aims to raise a total of $90 million, focusing on investments from pre-seed to pre-Series B stages without a specific sector focus.
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Vision Ventures Background: Founded in 2016, Vision Ventures is a sector-agnostic venture capital firm that invests primarily in early-stage tech startups across Saudi Arabia and the MENA region.
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Strategic Alignment: This investment aligns with SVC’s strategy to encourage venture capital investments and support fund managers looking to invest in high-growth Saudi-based startups.
- Future Prospects: SVC’s involvement as an anchor investor is seen as a strong endorsement for Saqr Fund II, enhancing the fund’s credibility and investment potential.
SVC pledges $15 million to Vision Ventures’ Saqr Fund II
- Saudi Venture Capital (SVC) has invested $15 million in Vision Ventures’ Saqr Fund II venture capital fund.
- Saqr Fund II, with a $90 million target, will invest in Saudi Arabia and the MENA region’s early-stage firms ranging from pre-Seed to pre-Series B, with a sector-agnostic approach.
- Vision Ventures, founded in 2016 by Haitham BuAisha and Kais Al-Essa, is a sector-agnostic VC firm that invests in early-stage tech startups in Saudi Arabia and MENA.
Press release:
Saudi Venture Capital (SVC) announced an investment of $15 million in Saqr Fund II, a venture capital fund managed by Vision Ventures.
Saqr Fund II, with a target size of $90 million, will invest in early-stage startups from pre-seed to pre-series B with a sector-agnostic approach in Saudi Arabia and the MENA region.
Dr. Nabeel Koshak, CEO and Board Member at SVC, commented: “Our investment in the venture capital fund by Vision Ventures is part of SVC’s Investment in Funds Program, in alignment with our strategy to catalyse venture investments and minimise fund-raising entry barriers for fund managers who are looking to invest in Saudi-based high-growth startups during their different growth stages.”
Kais Al-Essa, Founding Partner and CEO of Vision Ventures, commented: “SVC’s continued commitment towards our venture capital funds is a privilege. We are proud to have SVC as an anchor investor in our fund once again. Our ability to provide investors with exceptional performance and returns continues to attract investors, along with exceptional anchor investors such as SVC. Due to our entrepreneurial beginnings, we are best positioned to identify, partner with, and foster the growth of multiple startup and founder teams toward amazing results. We are passionate about what we do, and we have the track record to prove it.”
Here’s a summarized list based on the provided information:
Funds
- Saqr Fund II
- Managed by: Vision Ventures
- Target Size: $90 million
Investors
- Saudi Venture Capital (SVC)
- Investment Amount: $15 million
- Role: Anchor investor in the Saqr Fund II
Startup & Founders
- Vision Ventures
- Founded by:
- Haitham BuAisha
- Kais Al-Essa
Fundraising Series
- Type: Early-stage investments, covering from pre-Seed to pre-Series B.
- Focus: Sector-agnostic approach in Saudi Arabia and the MENA region.
Key Statements
- Dr. Nabeel Koshak (CEO and Board Member at SVC) highlighted SVC’s strategy to facilitate venture investments and support fund managers.
- Kais Al-Essa (Founding Partner and CEO of Vision Ventures) emphasized the privilege of having SVC as an anchor investor and the firm’s commitment to fostering startups.
This summarizes the relevant entities and details regarding the investment in Vision Ventures’ Saqr Fund II.