New trade body to promote private equity sector in Saudi Arabia

Saudi Arabia Venture Capital and Private Equity Association (SAVCPEA), an industry body representing the Kingdom’s private equity and venture capital sector, plans on stimulating investment in the Kingdom by raising awareness and promoting partnerships between industry professionals, it said in a statement on Sunday.

The SAVCPEA, created through a resolution made by the Saudi Council of Ministers, has been mandated to develop the private equity and venture capital sector. The organization will promote the industry’s contribution to the growing Saudi economy, as well as its role in determining, and improving best-in-class regulatory policies.

The association aims to foster closer collaboration between innovative, high growth businesses and venture capital and private equity companies.