The Saudi Exchange signed a Memorandum of Understanding (MoU) with Saudi Venture Capital Company (SVC) on the second day of the annual Saudi Capital Market Forum 2023, held under the patronage of HE. Muhammed El-Kuwaiz, the Chairman of the Capital Market Authority.

SVC is a government venture capital firm established in 2018 to support startups and SMEs in the Kingdom by investing USD 1.5 billion through funds and co-investment in startups.

The partnership between Saudi Exchange and SVC aims to stimulate investment in early pre-IPO stage specialist funds that are managed by financial institutions in the private sector. The Saudi Exchange will support startups and SMEs that intend to list in the Kingdom by providing advisory services and training to help them better understand the dynamics of the Saudi capital market.