Dubai, United Arab Emirates – BECO Capital, a leading early-stage venture capital firm, announced a $20M investment from SVC further strengthening its commitment to supporting the burgeoning Saudi startup ecosystem. The investment marks a key moment in BECO’s ongoing efforts to back the region’s most promising technology companies, with a specific focus on Saudi Arabia’s emerging market.
“We’re thrilled to deepen our partnership with SVC, a respected institution whose mission aligns with ours: driving growth and innovation in Saudi Arabia’s technology sector,” said Dany Farha, Co-Founder and Managing Partner at BECO Capital. “This collaboration is a natural extension of BECO’s continued investment in Saudi startups and underscores our long-term commitment to the Kingdom’s entrepreneurial ecosystem.”
A Track Record of Success in Saudi Arabia
The investment from SVC aligns with BECO Capital’s active participation in the Saudi startup market in recent years, where the firm has been a lead investor in the Kingdom's most promising technology startups. Recent investments include leading rounds in Brkz, a pioneering construction tech platform, and Ejari, an innovative PropTech company, and Mala, a Riyadh-headquartered FinTech startup.
Managing Partner Yousef Hammad, a Saudi national, recently appeared on 'Riyada' on Al Arabiya, where he highlighted BECO Capital’s successful exits, including the recent 17x return on Property Finder. He discussed BECO’s investment strategy as well as its commitment to fostering a strong venture ecosystem.
“Saudi Arabia remains a key focus for BECO, and we’re excited to contribute to the growth of its startup ecosystem,” said Yousef Hammad, Managing Partner at BECO Capital. “We see immense potential in Saudi entrepreneurs and are committed to helping them scale and drive innovation in this rapidly evolving market.”
Driving Thought Leadership and Ecosystem Growth
As part of BECO’s ongoing engagement with the regional ecosystem, Dany Farha recently participated in a panel discussion at the Future Investment Initiative (FII), where he spoke about the evolving fundraising environment and BECO’s 12-year journey in venture capital.
BECO Capital's investment strategy targets Seed to Series A startups, with Saudi Arabia representing a primary focus market. While sector-agnostic, the firm maintains clear investment theses across various sectors of interest and is currently publishing a comprehensive four-part series, Part I and Part II recently published here, examining the development and implications of AI in the region.
The collaboration between BECO Capital and SVC represents a significant step forward in strengthening the regional startup ecosystem, combining BECO's proven track record in identifying and supporting the next generation of innovative startups in Saudi Arabia.
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About BECO Capital
BECO Capital is the largest non-governmental venture capital firm in the Gulf. Since its inception in 2012, BECO Capital has helped the regional tech ecosystem to develop from its nascent stages to its current dynamism, emerging as a leading force behind many of the region’s most notable success stories. Among these is Careem, the trailblazer in regional ride-hailing that was acquired by Uber for $3.1 billion, Property Finder, the real estate marketplace that BECO exited for $1B in April 2024, alongside innovative companies like Kitopi and Fresha.
About SVC
SVC is an investment company that was established in 2018. It is a subsidiary of the SME Bank, part of the National Development Fund. SVC aims to stimulate and sustain financing for startups and SMEs from pre-seed to pre-IPO through funds and direct investments in startups and SMEs Further information is available at www.svc.com.sa.