SVC says 13 portfolio companies begin IPO procedures

Nabeel Koshak, CEO of Saudi Venture Capital Co. (SVC)

Nabeel Koshak, CEO of Saudi Venture Capital Co. (SVC), said that more than 13 companies from the firm’s investment portfolio have begun procedures for listing in public markets, after progressing from early stages to growth stages, and are now ready for potential IPOs in the coming years.

In an interview with Argaam on the sidelines of the Private Capital Forum, the top executive added that SVC targets a financial portfolio worth $3 billion through 2030, of which $1.5 billion has already been committed. He highlighted that the company has committed investments in 63 funds, which have in turn invested in more than 1,200 startups.

The company’s committed investments have doubled over the past two years, as it previously invested around $500 million annually, and now reaching $1.2 billion per year committed to funds, Koshak stated.

Koshak noted that the forum aims to shed light on private capital investment, which strengthens private markets and aligns them with public markets. “This includes a focus on various types of investment such as venture capital, growth capital, private equity, and debt instrument funds, all of which create opportunities to finance startups from idea through to public listing, while also offering attractive opportunities for investors to participate in these companies,” he said.