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Saudi Venture Capital (SVC) announced its investment of $30 million in Fund III managed by IMPACT46, a prominent asset management and advisory firm, which was among the first to receive authorization from the Capital Market Authority (CMA), reported the Saudi Press Agency on Monday. Fund III will invest in Saudi growth-stage companies and up to pre-IPO stage businesses, with an allocation to seed-stage startups and promising startups from the broader Middle East region.

Saudi arabiaAbdulaziz alomranBasmah alsinaidiHaifa bahaianNora alsarhanNabeel koshakCapital market authoritySaudi press agency onNational development fundInvestment in funds programSaudi venture capitalSaudi press agencyMiddle eastBoard memberChief investment officer nora alsarhanChief legal officer