2/5/2025, 10:41:02 am

Saudi VC firm STV closes maiden non-dilutive capital fund

Saudi Technology Ventures (STV) has closed its $100 million STV NICE Fund I, offering non-dilutive growth capital to regional tech firms. Backed by SAB Invest and family offices, the Sharia-compliant fund provides an alternative to traditional venture debt. It has already invested in startups like Morni, RedBox, Invygo, and BuildNow, addressing Saudi Arabia's tech financing gap.