Riyadh’s state-owned Saudi Venture Capital (SVC), which manages assets worth $2.2 billion, has appointed Nora M Alsarhan, its chief investment officer, as deputy CEO.
Alsarhan oversees SVC's investments, including funds and direct bets, in line with its objective of supporting growth and innovation in early-stage startups, especially in strategic sectors. Alsarhan, who joined SVC as investment director in June 2019 also sits on the limited partner advisory committees (LPACs) of many SVC portfolio funds. She was elevated as SVC’s CIO in June 2020.
Prior to her stint at SVC, Alsarhan worked as equity funding director with Saudi Arabia’s General Authority for Small and Medium Enterprises (Monshaat SA). Alsarhan, an MBA from AL Faisal University, started her career with EY as a financial analyst in 2010, working on transaction advisory engagements for clients in the public and private sectors.
Last month, SVC made a $30 million capital fund of fund commitment to private equity firm Olive Rock Partner's debut outing, Fund I, focused on tech-enabled mid-sized businesses in the Gulf region, with a primary focus on the UAE and Saudi Arabia.
Set up in 2018 and with $1 billion in assets under management, SVC has backed over 50 private capital funds, across the venture capital, private equity, venture debt, and private debt space that have invested in more than 700 businesses, as it aims to stimulate and sustain financing for startups and small and medium enterprises from pre-seed to pre-IPO. It is a subsidiary of the SME Bank, part of the National Development Fund.
Other key PE firms where SVC has deployed capital include Investcorp, General Atlantic, GCC Asia Growth Fund, Alpha Capital, and TVM Capital. It has backed over 30 venture capital firms including Shorooq Partners, Global Ventures, Nuwa Capital, SADU Capital, Flat6Labs, Arzan Venture Capital, Outliers, Hambro Perks, Seedra Ventures, and Access Bridge Ventures.
It has also invested in two private credit companies, venture debt company San Franciso-headquartered Partners For Growth, and Abu Dhabi-based private credit firm Ruya Partners.
