Ruya Private Capital secures a $10 Million investment from Saudi Venture Capital

Ruya Partners, a prominent private credit establishment, has received an investment of $10 million for its Ruya Private Capital I LP fund from Saudi Venture Capital (SVC).

Founded in 2020 by the trio Omar Al Yawer, Mirza Beg, and Rashid Siddiqi, Ruya Partners is known for offering financial solutions to private entities in the burgeoning markets. The principal aim of the fund is to extend capital solutions through personal debt tools, mainly to SMEs. The focus is primarily on mid-tier companies, encompassing late-stage VC-backed enterprises within Saudi Arabia and the surrounding region.

Ruya Partners' Founding Members Mirza Beg and Rashid Siddiqi shared with StartupScene, "Our vision is to fuel companies with private credit capital in a way that doesn't dilute shareholder value. We anticipate this will significantly propel their growth trajectory and play a pivotal role in fostering the SME landscape."

Initiated in 2018 as a state-affiliated investment entity under the umbrella of the SME Bank, SVC is committed to nurturing and extending funding for early-stage ventures and SMEs, spanning from initial seeding to the brink of IPO. In line with this mission, SVC has poured $2 billion into diverse funds and directly co-invested in startups. To date, their investments encompass 43 funds, collectively backing over 700 enterprises.