SVC invests $30m in IMPACT46 Fund III to support pre-IPO companies

As part of its commitment to minimize financing gaps for startups, Saudi Venture Capital Co. has invested SR112.5 million ($29.9 million) in IMPACT46 Fund III.

According to a press release, the move is designed to empower late-stage companies in the region by investing in growth and pre-initial public offering phases.

A late-stage company is a business that has been in operation for a few years and has demonstrated viability.

The release added that the trust will aim to allocate a specific amount for early-stage startups, focusing primarily on seed rounds in the broader Middle East.

Source: Arab News