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London
May 22, 2024
PI Global Investments
Private Equity

Saudi Venture Capital invests USD30M in  Private Equity Fund by General Atlantic


– Saudi Venture Capital (SVC) invests $30 million in a private equity fund managed by General Atlantic.

– The fund, which targets high-growth tech-enabled companies, will focus on sectors including Consumer, Financial Services, Healthcare, Life Sciences, and Technology.

– This investment is part of SVC’s strategy to attract global fund managers to invest in Saudi-based companies and stimulate later-stage investments.

Saudi Venture Capital (SVC) announced a $30 million investment in a private equity fund managed by General Atlantic, a leading global growth equity investor.

General Atlantic, a pioneer in the growth equity asset class for over four decades, manages approximately $84 billion in assets as of March 31, 2024. The fund will target high-growth, tech-enabled companies across five core sectors: Consumer, Financial Services, Healthcare, Life Sciences, and Technology.

Nabeel Koshak, CEO and Board Member at SVC, stated, “The investment in General Atlantic’s private equity fund aligns with SVC’s Investment in Funds Program and our strategy to attract top global fund managers to invest in Saudi-based companies and stimulate later-stage investments.”

Bill Ford, Chairman and CEO of General Atlantic, commented, “We are proud to partner with SVC and enhance our commitment to Saudi Arabia.

“Vision 2030 sets the stage for dynamic growth and innovation in Saudi Arabia, creating attractive investment opportunities for our global investors. SVC is a highly strategic investor who will deepen our expertise in this important region.”

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