Riyadh, Saudi Arabia – Saudi Venture Capital (SVC) has announced a $20 million investment in Booster Fund IV, a new venture capital fund managed by BECO Capital, an established early-stage venture firm in the Gulf region with $495 million in assets under management across four funds.
Booster Fund IV, operated by BECO Capital, is designed to support early-stage companies with the potential to pioneer or disrupt their industries. With a focus on investments from Seed to Series A stages, the fund maintains a sector-agnostic approach while targeting the Saudi and broader Gulf markets.
Dr. Nabeel Koshak, CEO and Board Member at SVC, underscored the significance of this investment, stating, “Our investment in Booster Fund IV by BECO Capital is part of SVC’s Investment in Funds Program, aligning with our strategy to support funds that invest in Saudi-based startups with high-growth potential, particularly during their early growth stages.”
Dany Farha, Co-Founder and Managing Partner at BECO Capital, expressed enthusiasm about the collaboration, noting, “We’re extremely excited to partner with SVC, an institution we greatly respect and with whom we align in our mission to support the flourishing ecosystem in Saudi Arabia. This partnership with the SVC team is a meaningful step forward, and we look forward to amplifying the impact we can bring to Saudi founders together in the years to come.”
Founded in 2018, SVC operates as a subsidiary of the SME Bank under the National Development Fund, with a core mission to stimulate financing for startups and SMEs across various stages of growth, from pre-Seed to pre-IPO. Through its Investment in Funds Program, SVC fosters early-stage capital infusion and sustainable growth for startups, reinforcing Saudi Arabia’s vibrant entrepreneurial ecosystem.
For further information, please visit www.svc.com.sa.
