News
Careem announced today that Al Tayyar Travel Group recently led a US$ 10 million investment round in the company with existing investor STC Ventures and other regional investors also participating to further expand its technology-enabled chauffeur-driven car booking service across the Middle East and beyond. Dubai, Riyadh, December 2, 2014: Careem, the UAE-headquartered app and...
Dubai, October 2, 2013: GlamBox, the UAE start-up that is changing the way women consume beauty via its convenient monthly subscription service, delightful online shop and lively community, has attracted $1.4m from MBC Ventures, STC Ventures and R&R Ventures, in its first round of funding. The newly acquired funds will help GlamBox scale rapidly and strategically its...
Careem announced today that STC Ventures, backed by Saudi Telecom Company, recently led a US$1.7 million investment round in the company that also included prominent regional angel investors to expand its car booking service across the Middle East. Dubai, September 9, 2013: Careem, a UAE-based chauffeur-driven car booking service, currently serving Dubai, Abu Dhabi, Doha...
Gengo closes a new round of funding with Intel Capital, Atomico, Iris Capital, Infocomm Investments, NTT-IP Fund and STC Ventures Tokyo, April 23, 2013 – Gengo, the translation platform for global companies, announced that the company has recently closed a US$12M round of funding led by Intel Capital, along with participation from Iris Capital, Infocomm Investments,...
Riyadh, KSA, April 17, 2013: Saudi Telecom Company and Iris Capital (STC Ventures’ Fund Manager) announced today that STC Ventures Fund has recently concluded the acquisition of a significant minority stake in IT Interactive Software Company (Acadox). Acadox is one of the early startup companies that has recently graduated from the New Ventures & Entrepreneurship...
Specialized SME private equity and venture capital investments in Saudi Arabia are gaining momentum. A few incubators have announced sponsorship of some technology startups but none of the early and late stage ventures have yet been announced as successfully completed transactions. The Saudi market is the largest GCC economy with a very large number of SMEs,...
Pictured (left to right): Ruwais Al Riyadh, Aiman Al-Atiqi and Angus Paterson, Partners, STC Ventures. STC Ventures is pleased to announce the addition of a new partner to its investment team, Aiman Al-Atiqi. Aiman Al-Atiqi joins as a Partner from Jadwa Investment. Aiman’s background is in investment banking and private equity, with a focus on...
Dubai, 19 March 2012 – The MENA Private Equity Association has launched a VC legal documentation guide designed to give entrepreneurs a practical understanding of the basic terms involved in a venture capital transaction. The guide focuses on issues specific to the Middle East and North Africa, and also includes a standard term-sheet template format....
Paris, Riyadh, November 21, 2011 – Saudi Telecom Company (STC) Group announced its investment in STC Ventures, the venture capital fund which specializes in start up, small, and medium sized companies operating in the field of IT and telecoms in the Saudi and Middle East markets as well as other international markets. STC Group will...
Pictured (left to right): Ruwais Al Riyadh and Angus Paterson, Partners, STC Ventures. STC Ventures is pleased to announce the addition of two new partners to its investment team, Angus Paterson and Riyadh Al Ruwais. Angus Paterson joins as a Partner from twofour54. Angus’ background is in venture capital investment and corporate finance advisory, focused...