Google Backs STV’s $100 Million AI Fund to Enable AI-Native Startups in the Middle East & North Africa

We are proud to announce that Google is backing STV’s new AI Fund, a dedicated fund established to enable the growth of AI-native startups across the Middle East and North Africa. This commitment signals a transformative step towards enabling AI startups at their early stage, and accelerates their growth beyond the region.

STV Alpha: Building the Next Wave of MENA Ventures

Building a venture is a bold move, as is identifying and backing the next big opportunity. Having access to the right insights, networks, and resources can make all the difference. STV is launching STV Alpha—a track designed to attract top talent into venture capital and entrepreneurship. Participants will gain firsthand experience in venture investing while having the flexibility to explore building their own ventures.

STV Announces its $100 Million Non-Dilutive Capital Investment Platform in Partnership with SAB Invest and the Strategic Backing of NTDP

STV, the leading growth investor in the tech sector in MENA, has announced the final close of its inaugural non-dilutive capital vehicle, the STV NICE Fund I. This milestone follows a successful commitment from SAB Invest through its Alternative Financing Fund, a CMA-licensed private fund, as well as several family offices. This initiative, supported by the National Technology Development Program (NTDP), is set to address the financing gap for tech startups in the Kingdom, offering critical Sharia-compliant non-dilutive capital to fuel growth in the rapidly expanding tech sector.

Introducing STV Lens with our new report: The MENA AI Opportunity

The GCC is uniquely positioned to lead in AI by focusing on the application layer, where true value and differentiation emerge. Here, local companies can leverage their understanding of regional needs, languages, and regulations to create tailored AI solutions that solve real-world problems, unlocking significant equity value and cost savings. This is the moment to harness our data assets, talent, and governance frameworks to build transformative AI products that resonate not only in the region, but globally.