Saudi Venture Capital (SVC), has announced its investment of $10 million in Ruya Private Capital I LP, a private credit fund managed by Ruya Partners, an independent private credit firm that provides funding solutions to private sector companies in developing markets.
The fund will focus on providing capital solutions in the form of private debt instruments to SMEs with a concentration on mid-market companies, including late-stage venture capital-backed businesses, in Saudi Arabia and the region.
SVC is a government investment company established in 2018 and is a subsidiary of the SME Bank, one of the developmental banks affiliated with the National Development Fund.
