The Saudi Venture Capital Company (SVC) reported a growth rate of 124 percent in terms of the total value of the investments dedicated for the venture investment, Saudi Press Agency reported on Tuesday.
Meanwhile, the investments rose to SR570 million against SR255 million in 2018, the year of the company’s inceptions, according to the report.
The grand total of all investments related to the company, through all programs, reached SR1.017 billion, but the grand total, including partners’ investments, was estimated at SR4.26 billion.
SVC invested in as many as 17 funds and 63 Saudi start-ups through 88 deals, at least, with a 5-Year investment span, in several sectors, such as e-commerce, fin-tech, informatics technologies and solutions, education, delivery and transport, the report said.
The report also shed light on the impact of the company, as the number of investors in the start-ups rose by 81 percent, while the companies number rose from 26 in 2018 to 47 firms.