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SVC makes investment in Olive Rock Partners’ private equity fund:Saudi Venture Capital (SVC) has made a USD 30 mn investment in Olive Rock Partners ’ maiden private equity fund, Olive Rock Partners Fund I, state news agency SPA reported yesterday, citing a SVC statement. Olive Rock Partners is an independent GCC-focused private equity fund based in the Abu Dhabi Global Market (ADGM).
Olive Rock I will focus on “mid-market buyouts that are geographically advantaged and technologically enabled,” according to the statements. No further details were provided on the fund or its planned investments.
What they said: “The investment in Olive Rock Partners Fund I is part of SVC’s Investment in Funds Program, which is a continuation of the company’s series of investments and an implementation of its strategy related to developing and sustaining financing for startups and SMEs, especially in strategic sectors,” SVC CEO Nabeel Koshak said.
Olive Rock has raised funds in KSA before: PIF-owned Jada Fund of Funds Company became a limited partner in Olive Rock Partners’ Fund I in 2022. The Abu Dhabi-based fund has invested in three regional healthcare platforms since its launch in November 2021 as part of a focus on Saudi and the UAE.
About SVC: Established in 2018, SVC is an investment management firm focusing on investments in private capital funds, including venture capital, private equity and others through a USD 2 bn in assets under management. It is a subsidiary of the National Development Bank’s SME Bank.
