Saudi Venture Capital (SVC), one of the top global growth equity investors, announced a $30 million investment in a private equity fund run by General Atlantic. Including all products, General Atlantic’s assets under management as of March 31, 2024, totaled about $84 billion. It was a pioneer in the growth equity asset class more than 40 years ago.
The fund’s primary objective is to invest in fast-growing, technology-enabled businesses in five key industries: technology, financial services, healthcare, life sciences, and consumer goods.
Dr. Nabeel Koshak, CEO and Board Member at SVC, commented: “The investment in the private equity fund by General Atlantic is part of SVC’s Investment in Funds Programme and an implementation of its strategy related to attracting top global fund managers to invest in Saudi-based companies as well as stimulating investment for later stages.”
Bill Ford, Chairman and CEO of General Atlantic, said: “We are very proud to partner with SVC and broaden our commitment to Saudi Arabia. Vision 2030 sets the stage for a period of dynamic growth and innovation in Saudi Arabia, which will create attractive investment opportunities for our global investors. SVC is a highly strategic investor who will deepen our expertise in this important region.”
