Within SVC’s fund investment program, this move marks a pivotal strategic advancement towards enhancing financing options for startups and small- and medium-sized enterprises (SMEs) in the Kingdom. The program aims to promote and support the funding of early-stage growth and expansion firms.
Mohannad Qabaj, co-founder of Olive Rock Partners, represented the fund in the signing, while Dr. Nabil Koshak, CEO and board member of SVC, represented the company.
At the signing ceremony, Abdullah Shahin, co-founder of Olive Rock Partners, Haifa Al-Muqbil, deputy head of investments, and Nora Al-Sarhan, investment manager at SVC, were in attendance. Dr. Nabil Koshak, CEO of SVC, emphasized the significance of this investment in the company’s plans to expand and enhance funding opportunities for SMEs and startups, particularly in critical industries.
Dr. Koshak remarked, “This investment is a crucial component of our fund investment program, continuing the series of investments the company has made in this sector.”
Acknowledging the fruitful collaboration between the two organizations, Mohannad Qabaj, co-founder of Olive Rock Partners, expressed gratitude to SVC for their investment and confidence.
Qabaj highlighted the increasing importance of private equity partnerships in Saudi Arabia, noting their role in supporting SME development and advancing the investment landscape.
SVC’s investment underscores its commitment to fostering innovation and entrepreneurship in the Kingdom of Saudi Arabia, especially in the context of bolstering economic infrastructure and enhancing the business environment for startups and SMEs.
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