Saudi Venture Capital Invests $15M in a VC Fund by Vision Ventures

Saudi Venture Capital (SVC) said in a press release issued today that it is investing $15 million in Saqr Fund II, a venture capital fund managed by Vision Ventures.
According to the release, 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 larger MENA region.
SVC CEO and board member Dr. Nabeel Koshak said: "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 catalyze venture investments and minimize fund-raising entry barriers for fund managers who are looking to invest in Saudi-based high-growth startups during their different growth stages."
Vision Ventures' Founding Partner and CEO Kais Al-Essa expressed gratitude to SVC for consistently supporting the institution's venture capital funds. He highlighted the "pride in having SVC as a key investor again", noting Vision Ventures' track record of delivering impressive performance and returns that attract investors.
With its entrepreneurial background, Vision Ventures is adept at spotting, collaborating with, and nurturing startup teams for successful results, reflecting its passion and proven track record, he emphasized.