22 Nov 2011
(MENAFN) Saudi Telecom Company (STC) Group pumped USD50 million in a nes venture capital fund aimed at helping start up small and medium sized companies (SME’s), Arabian Business reported.
Saud bin Majed Al Daweesh, STC Group CEO said the fund had been set up in an agreement with venture capital firm Iris Capital.
Al Daweesh explained that the telecoms giant plans to invest in smaller firms operating in the field of telecommunications and IT in the local market as well as other international markets.
He added that the fund was a logical step for STC, and would give the company first hand access in new technologies and modern services.
Al Daweesh also said that investing in small and medium sized businesses would help to create employment, encourage and develop innovation as well support the infrastructure for knowledge economy.
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more