STV, a Saudi Arabia-based investment firm, has announced the launch of its Total Growth platform to support the growth of technology companies in the Middle East and North Africa (MENA) region. The platform will provide equity and debt financing of up to $150 million to tech startups in the region. The aim of the platform is to stimulate the growth of these ventures by offering founders a range of funding options that align with their specific needs.
Founded in 2018, STV has committed an estimated $1 billion in capital to the MENA region and has a portfolio of 30 fast-growing companies in the region. The company’s CEO and founder, Abdulrahman Tarabzouni, believes that the Total Growth platform, a unique combination of debt and equity funding, will leverage the company’s deep market access and accumulated knowledge to fuel the growth of technology across the region.
In addition to traditional venture capital funds, STV is also developing a new product called Tanami, which provides Shariah-compliant venture debt solutions. The startup expects Tanami to play a key role in funding the region’s tech ecosystem over the next three years.
STV predicts that there will be 45 unicorns in the region by 2030, presenting a $100 billion opportunity, and is committed to supporting technology ventures to see the emergence of leading tech companies from the MENA region.
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