Saudi Venture Capital (SVC) invests $10 million in TVM Capital Healthcare’s Afiyah Fund to invest in innovative companies in the healthcare sector in Saudi Arabia.
TVM Capital Healthcare is a specialized healthcare expansion and growth capital private equity firm, operating out of Riyadh, Dubai, and Singapore.
The Saudi Venture Capital’s mandate is to develop the VC and PE ecosystems in Saudi Arabia and to increase investment opportunities in startups and SMEs.
“The investment in TVM Capital Healthcare’s Afiyah Fund 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, such as healthcare,” Nabeel Koshak, CEO and Board Member at Saudi Venture Capital, said.
The investment agreement was signed by Dr. Nabeel Koshak, CEO and board member at SVC and Dr. Helmut Schuehsler, chairman and CEO at TVM Capital Healthcare.