The Saudi Venture Capital Company (SVC) has announced investment in the venture debt fund of Partners for Growth Company (PFG), which offers debt instruments for startups and small and medium sized enterprises (SMEs).
The level of investment by SVC, however, has not been disclosed.
The venture debt fund run by the Partners for Growth Company (PFG) – one of the directors of international funds – is known for its expertise in offering venture debt financing, SPA reported.
“Investing in the venture debt fund with PFG is part of the company’s program to invest in funds to bridge the financing gap in the venture debt system,” SVC chief executive officer and board member Dr. Nabeel Koshak (below), said.
Koshak said the bridge debt financing was aimed at helping potential high-growth startups and SMEs to avoid reduction of ownership of existing founders and investors.
The fund will focus on offering venture debt tools to help startups, and small and medium size enterprises to achieve faster growth.
Startups and SMEs in the technical, financial technology, healthcare and biological sciences fields will be the focus for venture debt fund.
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