Saudi Venture Capital (SVC) has named Nora Alsarhan its new Chief Executive Officer, with the appointment taking effect on 1 July 2024. Alsarhan, an insider who most recently served as Deputy CEO and Chief Investment Officer, will take over from Dr Nabeel Koshak as part of a structured leadership succession plan.
Quick Facts
- Nora Alsarhan appointed CEO, effective 1 July 2024.
- Succeeds Dr Nabeel Koshak, who retains his board seat.
- SVC has backed over 65 funds and 1,000 startups.
An Insider Steps Up
Nora Alsarhan’s promotion to the top role signals a focus on continuity at the influential government-backed investment firm. Having joined SVC in June 2019, she has been a key figure in the organization’s development, holding several senior positions.
In her previous roles, Alsarhan was instrumental in shaping the company’s investment agenda. She managed institutional performance, governance, and strategic planning, giving her deep operational knowledge of the firm she is now set to lead.
Building on a Foundation of Growth
Alsarhan succeeds Dr Nabeel Koshak, who has led SVC since its early stages in 2019. The board credited Dr Koshak with establishing the firm’s operations and building its capabilities, which saw a significant expansion in investment activity during his tenure.
Dr Koshak will continue to guide the firm’s direction by retaining his seat on the board of directors. His leadership coincided with a period of explosive growth for the Kingdom’s startup scene, with venture capital funding increasing 26-fold between 2018 and 2023.
SVC’s Impact on the Saudi Ecosystem
As a central player in the Kingdom’s economic diversification strategy, SVC has been a major catalyst for the venture capital market. The firm has deployed capital across more than 65 funds, spanning venture capital, private equity, venture debt, and private credit.
These partner funds have gone on to invest in over 1,000 startups and small to medium-sized enterprises (SMEs), channelling critical funding into Saudi Arabia’s emerging tech landscape and positioning it as a leading regional hub for venture investment.
About Saudi Venture Capital (SVC)
Saudi Venture Capital is a government investment company established in 2018. It aims to stimulate and sustain financing for startups and SMEs from pre-seed to pre-IPO by investing US$1.6 billion through a fund of funds and direct co-investment in startups.
Source: Fintech News AE
