Saudi Venture Capital (SVC) announced its investment in a global specialty lending fund managed by Partners for Growth (PFG), one of the international and experienced fund managers providing venture and growth stage debt instruments to startups and SMEs. PFG also maintains a close strategic partnership with Silicon Valley Bank.
The fund focuses on offering venture debt instruments to high-growth startups and SMEs in several sectors, such as technology, fintech, healthcare, and life science.
Commenting on the investment, Dr. Nabeel Koshak, CEO and Board Member at SVC, said: “The investment in the venture debt fund by PFG is part of SVC’s Investment in Funds Program, and is to implement SVC’s latest strategy related to the launch of the “Investment in Venture Debt Funds” product in order to fill the financing gaps in the venture capital ecosystem. Venture debt funds provide financing solutions to high-growth startups and SMEs to prevent equity dilution for founders and existing investors and allow startups and SMEs to achieve greater progress during their growth journey.”