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 ago
OER, April 25
-
Alamaliktistaad Magazines2 months ago
Al-Iktisaad, April 25
-
Renewables1 month ago
Jindal Renewables and OQ Alternative Energy Sign Joint Development Agreement to Advance Integrated Renewable Power Projects in Oman
-
Business2 months ago
St. Petersburg International Economic Forum 2025 unveils its Business Programme
-
Leaders Speak1 month ago
OERLive SPOTLIGHT: Oman Sustainability Week 2025 and Oman Petroleum & Energy Show
-
Alamaliktistaad Magazines4 weeks ago
Al-Iktisaad, May 25
-
Banking & Finance2 months ago
How is National Bank of Oman Working Towards Creating a Robust Fintech Ecosystem?
-
OER Magazines4 weeks ago
OER, May 2025