|16 October, 2019

Saudi STV to expand tenfold to $500mln in 2025

The realization of such a growth trajectory will result in a cumulative injection of $2 billion between 2019 and 2025

A Saudi money changer displays Saudi Riyal banknotes at a currency exchange shop in Riyadh, Saudi Arabia July 27, 2017.

A Saudi money changer displays Saudi Riyal banknotes at a currency exchange shop in Riyadh, Saudi Arabia July 27, 2017.

REUTERS/Faisal Al Nasser

 Riyadh – Mubasher: Saudi Arabia’s venture capital firm, Saudi Technology Ventures (STV), is growing rapidly, and yearly invested capital has the potential to expand tenfold to $500 million in 2025 from $50 million in 2018.

The realization of such a growth trajectory will result in a cumulative injection of $2 billion between 2019 and 2025, according to STV’s statement on Wednesday.

“I definitely see a path to a second fund that is equal or larger to the $500 million fund we have today,” Abdulrahman Tarabzouni, CEO of STV, said.

The Ventures estimates that $350 million will target early-stage ventures, with the rest deployed across the ecosystem, from Series A to late-stage ventures.

Source: Mubasher

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