Saudi Telecom Company (STC) announced the establishment of STV, which is a technology venture capital fund of $500 millon.
STV will be having complete independence, where it’s going to deploy independent governance and operation models designed in accordance with international best practices, allowing it to leverage STC’s assets, which is going to enable its investments, in addition to its surrounding ecosystem to grow and scale.
STV is claimed to be the largest institutional technology venture capital fund in the Middle East by STC. It believes that the Middle East is going through a digital transformation that is full of opportunities in the digital economy and digital industries.
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