New Delhi, July 21 -- The Saudi Venture Capital Company (SVC), Riyadh's state-owned investment firm that commits capital to venture capital, private equity, venture debt and private credit funds, has made a limited partner-style bet in a tech-focussed early-stage venture-capital fund in Saudi Arabia.
SVC, set up with $1 billion in assets under management (AUM) in 2018, has made an investment commitment in Riyadh-headquartered Seedra Ventures' second vehicle. The fund's corpus was not disclosed.
Seedra Ventures follows a sector-agnostic-approach for technology and tech-enabled startups including those operating in artificial intelligence, finTech and proptech. It primarily targets early-stage and high-growth startups in pre-Seed up to Series A stages.
"SVC's investment, alongside the strong demand that resulted in Fund II being oversubscribed, reinforces our conviction in the market and our ability to identify exceptional entrepreneurs early in their journey," said Haitham Alforaih, managing partner of Seedra Ventures.
"Through Fund II, we will partner with founders as they scale [up] their businesses by providing capital, expertise and strategic access to our network, while maintaining a disciplined approach to delivering attractive long-term returns for our investors," said Alforaih.
It is focussed on expanding the local Saudi Arabian tech ecosystem in line with the Kingdom's Vision 2030.
In 2024, the firm had added another sovereign investor Public Investment Fund (PIF)-owned Jada Fund-of-Funds as an LP. Seedra Fund II marked the first close of the fund in the second quarter of 2024.
Seedra's other portfolio firms include cloud-based human resources management system (HRMS) ZenHR, edtech Classera, B2B SaaS provider Lucidya, food delivery platform DailyMealz, social e-learning platform Noon Academy, construction tech company Wakecap and on-demand staffing platform Sabbar.
Support for region's founders
"Early-stage venture capital investment is where Saudi Arabia's founders meet their first institutional partners, and the depth of that segment shapes what follows," said Nora Alsarhan, CEO at SVC.
"Our investment in SEEDRA Ventures Fund II supports a manager focussed squarely on backing Saudi technology founders at that critical stage, expanding the specialised capital available to them and reinforcing the private-sector engine of Vision 2030."
The commitment comes about seven months after SVC announced joint investments worth SAR1 billion ($266 million) across 17 venture capital, private equity and private debt funds managed by 11 American fund managers in November 2025. Earlier in January 2025, it has signed up as LP in Dubai-headquartered Global Ventures' third investment vehicle.
Published by HT Digital Content Services with permission from VC Circle.