Saudi Venture Capital Invests $20M in a Venture Capital Fund by BECO Capital.

Saudi Arabia: Saudi Venture Capital (SVC) announced in a press release issued today an investment of $20 million in Booster Fund IV, a venture capital fund managed by BECO Capital. BECO Capital is an early-stage venture firm in the Gulf with $495 million in AUM across four funds. According to Saudi Press Agency, BECO Booster Fund IV targets investing in early-stage companies capable of pioneering or disrupting their categories. The fund focuses on early stages ranging from Seed to Series A, with a sector-agnostic approach and a geographic focus on Saudi Arabia and the Gulf region. SVC CEO and Board Member Dr. Nabeel Koshak said: "Our investment in the Booster Fund IV by BECO Capital is part of SVC's Investment in Funds Program, in alignment with our strategy to support funds that invest in Saudi-based startups with high-growth potential, especially during their early growth stages." SVC is an investment company that was established in 2018. It is a subsidiary of the SME Bank, part of the National Developme nt Fund. Through funds and co-investment in startups and SMEs, SVC aims to stimulate and sustain financing for startups and SMEs from pre-seed to pre-IPO.