STV launches a Total Growth platform, anchored by Saudi Arabia’s National Technology Development Program (NTDP) during the LEAP 23 Conference in Riyadh.
With $150 million in initial commitments and growing, the platform aims to accelerate the growth of technology companies in the region through both equity and debt.
With its new platform, the fund aims to stimulate regional tech ventures, by offering founders access to a suite of funding solutions that serve their needs throughout their growth journeys.
“We are excited to enter this new chapter at STV. Over the past 5 years, we have invested in great founders and their companies, many of which have grown to become champions of their sectors. We look to double down on our mission with the STV Total Growth, a unique debt and equity funding platform, that leverages our deep market access and compounding knowledge to fuel technology growth across the region,” Abdulrahman Tarabzouni, Founder and CEO at STV, said.
STV Total Growth will use a suite of funding instruments to fuel growth-stage technology companies in the region. Aside from equity in the form of venture capital, a newly developed product named Tanami will act as a Sharia-compliant non-dilutive venture debt instrument to develop the tech ecosystem in the region.
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