Saudi Venture Capital invests $10m to develop Kingdom’s healthcare sector

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Updated 02 November 2022
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Saudi Venture Capital invests $10m to develop Kingdom’s healthcare sector

Saudi Venture Capital has announced its investment of $10 million in TVM Capital Healthcare’s Afiyah Fund. It will help in the growth of innovative companies in the Saudi healthcare sector.

The subscription agreement was signed by Dr. Nabeel Koshak, CEO and board member at SVC, and Dr. Helmut Schuehsler, chairman and CEO at TVM Capital Healthcare. The signing ceremony was attended by Mazin Al-Ghunaim, CEO of Saudi SME Bank.

TVM Capital Healthcare is a specialized healthcare expansion and growth capital private equity firm, operating out of Riyadh and Dubai in the Middle East, as well as Singapore in the Southeast Asia region.

Commenting on the investment, Al-Ghunaim said that SVC’s mandate is to develop the venture capital and private equity ecosystems in the Kingdom, and to increase investment opportunities in startups and SMEs, thus supporting their success rate and continuous growth to successfully contribute toward achieving Saudi Vision 2030.

Dr. Koshak said: “The investment in TVM Capital Healthcare’s Afiyah Fund is part of SVC’s Investment in Funds Program, which is a continuation of the company’s series of investments and an implementation of its strategy related to developing and sustaining financing for startups and SMEs, especially in strategic sectors, such as healthcare.”

Dr. Schuehsler said: “We are raising this fund to finance innovative healthcare companies in the country and selectively bring highly innovative foreign companies into the Kingdom.”

The signing ceremony was also attended by Nora Alsarhan, chief investment officer at SVC, and Haifa Bahaian, chief legal officer at SVC. TVM Capital Healthcare’s managing partners Tristan de Boysson and Orhan Osmansoy, and operating partner Othman Abahussein were also present.


LuLu Walkathon: 22,000 participants champion greener future

Updated 12 February 2026
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LuLu Walkathon: 22,000 participants champion greener future

Alkhobar’s New Corniche transformed into a vibrant hub of energy and community spirit when more than 22,000 people gathered for the highly anticipated “LuLu Walkathon.” Organized by LuLu Saudi Hypermarket, the 3-km event was held under the patronage of the Ministry of Sport and Alkhobar municipality on Jan. 31. The walkathon successfully united the community under the themes of health and environmental sustainability.
The event was held with the cooperation of Meshaal Al-Harbi, head of Alkhobar municipality, and Tareq Al-Qahtani, director of the Ministry of Sport’s Eastern Province branch. The official flag-off was performed by Mohammed Haris, director of LuLu Hypermarket Saudi Arabia.
This year’s walkathon went beyond fitness, offering a rich tapestry of entertainment including soulful traditional Arabic music, a contemporary violin performance, and a playful “donuts dance,” which ensured a festive atmosphere for families of all ages.
A major highlight of the morning was the presence of Khadra. Khadra served as a living reminder of the Kingdom’s deep-rooted cultural artistry, posing for photos with the thousands of participants who lined the coast. To ensure every attendee felt the spirit of the celebration, participants were geared up with a premium merchandise kit containing custom-branded T-shirts and caps. Furthermore, every individual who successfully completed the 3-km route was rewarded with an exclusive LuLu goodie bag at the finish line to celebrate their achievement.
Sustainability remained a core pillar for the LuLu Walkathon this year, reflecting the brand’s long-term environmental vision. LuLu’s staff managed the route with a strict focus on environmental responsibility, while strategically placed refreshment stalls kept walkers hydrated without compromising the pristine condition of the corniche.
The massive success of the event was supported by key partners, including MasterCard as the commercial sponsor and Nada, which provided vital refreshments, alongside significant support from Radio Mirchi and Alyaum newspaper.
“The walkathon concluded not just as a race, but as a meaningful tribute to the Kingdom’s past and a definitive step toward a sustainable future,” a statement said. “By blending physical activity with cultural celebration and environmental stewardship, LuLu Hypermarket reaffirmed its commitment to the Saudi community, promoting an active, engaged, and responsible lifestyle for all residents.”