Saudi Venture Capital Invests $10 Million in Ruya Private Capital

Ruya Partners, an independent private credit firm, has secured a $10 million investment from Saudi Venture Capital (SVC) for its private credit fund, Ruya Private Capital I LP.

Established in 2020 by Omar Al Yawer, Mirza Beg, and Rashid Siddiqi, Ruya Partners specializes in providing funding solutions to private sector companies in emerging markets. The fund's primary focus will be on offering capital solutions in the form of private debt instruments to small and medium-sized enterprises (SMEs), with an emphasis on mid-market companies, including late-stage venture capital-backed businesses in Saudi Arabia and the broader region.

"We firmly believe that offering private credit capital solutions to companies in a manner which is non-dilutive to shareholders will serve as a powerful catalyst for their future growth and should contribute towards the continued expansion and development of the SME ecosystem,” Mirza Beg and Rashid Siddiqi, Founding Partners at Ruya Partners, tell StartupScene.

SVC, established in 2018 as a government investment company and a subsidiary of the SME Bank, is dedicated to promoting and sustaining financing for startups and SMEs from the pre-Seed to pre-IPO stages. In order to achieve this, they invested $2 billion in various funds and co-investing in startups. SVC's investments have reached 43 funds, which have, in turn, supported over 700 companies.