Riyadh – Mubasher: Saudi Arabia's STV has led 30% of total venture capital funding in Saudi Arabia since its inception in early 2018.

The venture capital (VC) firm co-led regional investment rounds worth $333 million, representing 16% of the Middle East and North Africa’s (MENA) total venture capital fundraising, according to a report on Sunday. 

Moreover, it processed transactions worth over $3.7 billion through its portfolio companies, achieving over $480 million in revenue.

Hence, STV became one of the region’s largest contributors to the venture capital and technology empowerment spaces.

Saudi Arabia, in particular, and the MENA region, in general, have witnessed an exponential growth in funding volume over recent years, with the first seeing a 102% yearly rise in total venture capital investments during the first half (H1) of 2020, the report said. 

This made the kingdom the fastest-growing, in terms of overall investments, in the MENA region. As was previously estimated, the Gulf nation is expected to record venture capital investments of $500 million by 2025, STV noted.