SRMG, a Riyadh, Saudi Arabia-based global integrated media group, launched its corporate venture capital arm, SRMG Ventures.
SRMG Ventures will invest in early-stage companies and technologies within the core target areas: media creators, digital media, media enablers and tools, including generative AI, as well as immersive and interactive entertainment. The arm will initially target investments from the seed to Series B stage.
SRMG Ventures will enable SRMG to back and empower regional talent and entrepreneurs, acting as a catalyst for further growth of the rapidly evolving media industry in the region. SRMG Ventures will provide SRMG with direct access to innovative technologies, as well as new media talent and content creators, that will continue to enhance SRMG’s own media portfolio and drive forward the future of media. The new corporate venture capital arm will additionally help SRMG penetrate new markets and further diversify its business offering, whilst generating tangible financial returns.
SRMG Ventures has also announced inaugural investments and partnerships with two companies:
- Telfaz11, a Saudi-based creative media studio specializing in locally relevant entertainment content, and producer of the box office hit “Sattar” and feature film “Alkhallat+”.
- VUZ, a VR-enabled social media app that allows users to engage with 360o videos enabling a new level of immersive realism.
FinSMEs
30/03/2023