STV Launches $100M Fund to Fuel Growth of Saudi Tech Startups via "Total Growth" Platform
Prominent Middle East VC firm Saudi Technology Ventures (STV) has announced a significant $100 million fund specifically targeting the growth of technology startups within Saudi Arabia. Operating under STV's "Total Growth" platform, the fund aims to provide both equity and innovative debt financing options to support founders aligned with Vision 2030.
Boosting KSA's Tech Ecosystem
This new fund represents a major part of STV’s broader strategy to strengthen Saudi Arabia's technology industry and contribute to the ambitious goals outlined in Saudi Vision 2030. The capital injection is aimed squarely at accelerating the development of promising tech companies within the Kingdom.
STV Total Growth Platform: Equity and Debt Options
The $100M fund operates within the framework of the STV Total Growth platform. This platform, reportedly supported by Saudi Arabia’s National Technology Development Program (NTDP) and launched previously, is designed to speed up the growth trajectory of tech companies by offering founders access to a diverse range of funding options. This includes traditional venture capital (equity) investments alongside innovative debt solutions.
Introducing "Tanami": Sharia-Compliant Growth Capital
A key component of the STV Total Growth offering is "Tanami". This product is described as a Sharia-compliant loan specifically designed to be non-dilutive. This means founders can access growth capital through Tanami without having to give up ownership equity in their companies, providing crucial support for the local tech scene while aligning with founder interests.
Strong Backing and Leadership Vision
The initiative is supported by notable partners, including SAB Invest’s Alternative Financing Fund, the National Technology Development Program (NTDP), and several prominent family offices.
“We’re excited to start this new phase at STV,” said Abdulrahman Tarabzouni, Founder and CEO of STV. “Over the last five years, we’ve backed amazing founders and companies, many of which have become leaders in their fields. With STV Total Growth, we’re taking our mission further by offering a unique debt and equity funding mix. We use our strong connections and deep experience to help tech companies grow globally.”
About STV (Saudi Technology Ventures)
Saudi Technology Ventures (STV) is a well-known venture capital firm operating in the Middle East. It has a track record of backing successful founders and companies, positioning itself as a key player in the regional technology investment landscape.
Looking Ahead
The launch of this $100 million fund, particularly with the inclusion of the founder-friendly Tanami debt option, provides Saudi technology startups with valuable new resources. STV's expanded toolkit aims to offer flexible support tailored to different stages of growth, further catalyzing the development of the Kingdom's tech ecosystem.
Source: Startuprise.org