SAUDI ARABIA: STV, a growth investor focused on the tech sector of MENA, announced the final close of the STV NICE Fund I, its inaugural non-dilutive capital vehicle. The move follows a commitment from SAB Invest through its Alternative Financing Fund and several family offices in Saudi Arabia.
The initiative is supported by the National Technology Development Program and offers Shariah compliant non-dilutive capital to tech start-ups. The fund has already invested in several companies, including Morni, RedBox and Invygo.
