As a subsidiary of the SME Bank, one of the development banks affiliated with the National Development Fund, SVC announced the increase of its investment capital for the coming years, leading to a total investment capital of 6 billion Saudi riyals ($1.6 billion). SVC also announced the launch of its new brand identity as a subsidiary of the SME Bank, which reflects the strategic growth of SVC in developing its investment products and enhancing its role in stimulating and sustaining financing for startups and SMEs from pre-Seed to pre-IPO through the investment in funds and co-investment in startups. On this occasion, Dr. Nabeel Koshak, CEO and board member of SVC, considered SVC’s move under the umbrella of the SME Bank to be a catalyst to support SVC’s goals in stimulating and developing the financing for startups and SMEs in the Kingdom of Saudi Arabia, expressing his happiness at the result of this merger in unifying efforts and serving sector.