The state-backed fund Saudi Venture Capital Co. (SVC) has revealed that more than 13 of the companies in its portfolio have begun preparations for an initial public offering, as the firm scales up its role in Saudi Arabia’s private-markets ecosystem. In an interview with Argaam on the sidelines of the Private Capital Forum, SVC Chief Executive Nabeel Koshak said that the firm’s target portfolio size by 2030 is $3 billion, of which $1.5 billion has already been committed.
Koshak noted that SVC has committed capital to 63 funds which have invested in over 1,200 start-ups, and that the fund’s annual investment commitment has more than doubled in the past two years, rising from around $500 million per annum to about $1.2 billion.
SVC is also re-shaping its allocation strategy. According to the firm, roughly half of its resources will now be directed toward private credit and equity, up from about a third previously, reflecting the growing role of “growth finance beyond early-stage venture” in the Kingdom’s strategy to develop a broader financing ecosystem for start-ups and SMEs.
The Private Capital Forum, held this month in Riyadh, aimed to highlight how private-market instruments, including venture capital, growth capital, private equity and debt funds, can help bridge the gap between early-stage companies and the public markets, aligning with the goals of Saudi Vision 2030.
