- SRMG Ventures, a new corporate venture capital arm, has been launched to invest in media creators, digital media, and related technologies.
- Initial investments focus on seed to Series B stage companies.
- Inaugural investments include Telfaz11, a regional production house, and VUZ, an immersive video platform.
- The MENA media and entertainment sector is expected to grow 9% and exceed $20 billion by 2026.
SRMG Ventures: Fostering Innovation in Content Creation and Digital Media
SRMG, a global integrated media group, has announced the launch of SRMG Ventures, its corporate venture capital arm. This new venture aligns with SRMG’s transformative growth strategy and will invest in early-stage companies and technologies within media creators, digital media, media enablers and tools, including generative AI, as well as immersive and interactive entertainment. SRMG Ventures will primarily target investments from seed to Series B stage.
Empowering Regional Talent and Entrepreneurs
SRMG Ventures aims to support and empower regional talent and entrepreneurs, acting as a catalyst for the rapidly evolving media industry in the region. By providing direct access to innovative technologies and new media talent, SRMG Ventures will enhance SRMG’s media portfolio and drive the future of media forward. The venture capital arm will also assist SRMG in penetrating new markets and diversifying its business offerings while generating tangible financial returns.
Inaugural Investments in Telfaz11 and VUZ
SRMG Ventures has kicked off its investment journey with two fast-growing companies:
- Telfaz11: A Saudi-based creative media studio specializing in locally relevant entertainment content. Known for producing the box office hit “Sattar” and the popular feature film “Alkhallat+” on Netflix.
- VUZ: A leading VR-enabled social media app that allows users to engage with 360-degree videos, enabling a new level of immersive realism.
A Thriving Media and Venture Capital Landscape
The launch of SRMG Ventures comes at a crucial time for the MENA media and venture capital sectors. The MENA media and entertainment sector is expected to grow at a rate of 9%, exceeding $20 billion by 2026, outpacing global growth. Furthermore, the MENA region, particularly Saudi Arabia, is experiencing a vibrant entrepreneurial ecosystem. Venture capital funding in the region surpassed $3 billion in 2022, an annual increase of 8.3%, with Saudi Arabian startups securing $987 million in 2022, a 72% increase compared to 2021.