Economy
Saudi Arabia Venture Investor Considers Second $500 Million Fund
(Bloomberg) —STV, the venture capital investor that backed a Dubai ride-hailing firm before its sale to Uber Technologies Inc., is considering raising a second fund of at least $500 million.
“I definitely see a path to a second fund that is equal or larger to the $500 million fund we have today,” said Chief Executive Officer Abdulrahman Tarabzouni.
Interest in Middle East technology startups has been rising. Uber bought Careem Networks in March for $3.1 billion, while Amazon.com Inc. purchased Dubai-based online retailer Souq.com in 2017. STV expects venture capital investments in Saudi Arabia alone to grow tenfold by 2025, according to a report Wednesday.
STV started operations in 2017 with funding from Saudi Telecom Co., and ex-Google executive Tarabzouni left Silicon Valley to run it. It has already backed companies including e-commerce firm Mrsool and education app Noon Academy.
-
OER Magazines2 months agoDossier – ToP 25 Personalities 2025
-
Dossier2 months agoArabic Dossier – ToP 25 Personalities 2025
-
Alamaliktistaad Magazines2 months agoAl-iktisaad, August 25
-
OER Magazines2 months agoOER, August 2025
-
Entertainment2 months agoHere’s a Complete Overview of the 2025/2026 Season at the Royal Opera House Muscat
-
News2 months agoSultan Center Unveils Flagship Al Hail Store, Elevating Premium Retail Experience in Oman
-
News2 months agoHONOR, in partnership with MHD-ITICS Debuts at COMEX in Muscat, Expanding Its Presence in the GCC
-
IT2 months agoAI Zone, Digital Triangle Project Unveiled at COMEX 2025
