RIYADH: The Saudi Venture Investment Co. has launched the “Investment in Accelerator Funds and Startup Studios" initiative, the Saudi Press Agency reported on Monday. It is part of the company’s efforts to support startups in the Kingdom in the seed and pre-seed phases. SVC has investments worth SR1.1 billion ($293.2 million) in 20 funds. The company has supported around 116 startups since its establishment in 2018 till the end of the third quarter of 2021.