Riyadh Valley Company (RVC), the investment arm of King Saud University, has announced its investment in the Total Growth Platform launched by STV.
According to the University and the Riyadh Valley Company (RVC), STV’s USD 150 million platform is the largest independent technology investment firm in the Middle East and North Africa (MENA), according to RVC. STV is a leading regional VC firm. The investment reflects RVC’s strategy of investing in a balanced and diverse portfolio that aims to achieve the University’s objectives and contribute to the Kingdom’s 2030 Vision.
Riyadh Valley Company
Riyadh Valley Company is the investment arm of King Saud University and focuses on the knowledge economy and strategic projects. RVC is a strategic investor leveraging local capabilities and investing locally and globally in growth-stage businesses to create financial and strategic returns that will fulfill King Saud University’s long-term goals and support the future of economic development in Saudi Arabia.
Fueling growth among regional tech ventures
The Total Growth Platform aims to fuel the growth of regional tech ventures by offering founders access to a suite of funding solutions, equity and debt, that serve their needs throughout their growth journeys. Growth in MENA venture capital funding crossed USD 3 billion in 2022. The investment of Riyadh Valley Company in the Total Growth Platform aligns to support the entrepreneurship environment in Saudi Arabia and enable the commercialization of innovation in universities and technology hubs across the region.
Supporting the development of local technology and innovation
RVC’s future vision is to support the development of local technology and innovation as the Kingdom climbs the ranks of the most attractive global emerging markets. The investment in STV’s Total Growth Platform will serve as a catalyst for local entrepreneurs to take their ventures to the next level by providing them with access to a range of growth resources. The partnership between RVC and STV will help in boosting the growth of tech ventures and supporting the entrepreneurship environment in the Kingdom.