Saudi Arabia’s tech investment ecosystem just received a major boost. STV, the MENA region’s largest independent tech investor, has officially closed its $100 million STV NICE Fund I — a non-dilutive, Sharia-compliant capital vehicle developed in partnership with SAB Invest and NTDP (National Technology Development Program).
Announced on April 30, 2025, the STV NICE Fund aims to fill a crucial financing gap for growth-stage tech startups in the Kingdom, enabling them to scale without giving up equity.
💡 What Is the STV NICE Fund?
The NICE Fund I (Non-Dilutive Investment in Callable Equity) introduces a founder-friendly investment model tailored to:
- Provide non-dilutive capital (no equity dilution)
- Ensure Sharia-compliant financial structure
- Deliver steady income for investors
- Fuel long-term tech growth in Saudi Arabia and the wider MENA region
It has already made investments in local startups like Morni, RedBox, and Invygo.
🤝 Backed by Powerful Partners
- SAB Invest: Leading the fund’s financing through its CMA-licensed Alternative Financing Fund
- NTDP: Offering strategic support to develop innovative, scalable funding mechanisms
- Key stakeholders present at the launch included:
- Ms. Lubna Alolayan, Chairperson of SAB
- Abdulrahman Tarabzouni, Founder of STV
- Ibrahim Neyaz, CEO of NTDP
- Tony Cripps, CEO of SAB
- Ali Almansour, CEO of SAB Invest
🗣️ Key Statements
Ihsan Jawad, General Partner at STV:
“This milestone marks a pivotal moment in the evolution of tech investment in the Kingdom. We’ve built a funding model tailored for regional startups.”
Ibrahim Neyaz, CEO of NTDP:
“This initiative enables sustainable capital access that fuels innovation and economic diversification.”
Osama Alowedi, CIO of SAB Invest:
“Our partnership creates new opportunities for both startups and Sharia-compliant investors focused on long-term tech growth.”
📈 Why This Matters
This fund:
- Aligns with Saudi Arabia’s Vision 2030 and the Financial Sector Development Program
- Supports the Capital Market Authority’s strategy of fostering private-public financial innovation
- Offers a scalable alternative to equity-based VC funding for high-growth startups
