Saudi Venture Capital (SVC) has officially announced its investment in Khwarizmi Venture Capital Fund 2, a strategic move aimed at bolstering the startup ecosystem in the Gulf region. This fund will primarily target Seed-to-Series A investments in high-growth technology and tech-enabled startups, with a commitment to allocate at least 50% of its capital to companies based in Saudi Arabia. While the fund maintains a sector-agnostic approach, it has identified significant opportunities within the fintech, e-commerce, and artificial intelligence sectors. Nora Alsarhan, Deputy CEO and CIO at SVC, emphasized that this investment aligns with SVC's broader strategy to attract fund managers to invest in Saudi-based enterprises, thereby stimulating early-stage investment. Abdulaziz AlTurki, Managing Partner of Khwarizmi Ventures, highlighted the partnership as a commitment to empowering entrepreneurs and fostering the growth of innovative technology startups that can enhance Saudi Arabia's status as a regional hub for venture capital and entrepreneurship.
Source: Wamda
