Saudi Venture Capital (SVC) announced an investment of $20M in Booster Fund IV, a venture capital fund managed by BECO Capital. BECO Capital is an early-stage venture firm in the Gulf with $495M in AUM across four funds.
BECO Booster Fund IV targets investing in early-stage companies that are 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.
Dr. Nabeel Koshak, CEO and Board Member at SVC, commented: “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.”
Dany Farha, Co-Founder and Managing Partner at BECO Capital, said: “We’re extremely excited to partner with SVC, an institution we greatly respect and with whom we align not only in our mission to support the flourishing ecosystem in Saudi Arabia but also in our values and ethos as a firm. This partnership with the SVC team is a meaningful step forward, and we look forward to amplifying the impact we can bring to Saudi founders together in the years to come.”
SVC is an investment company that was established in 2018. It is a subsidiary of the SME Bank, part of the National Development Fund. SVC aims to stimulate and sustain financing for startups and SMEs from pre-Seed to pre-IPO through funds and co-investment in startups and SMEs.