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Saudi Arabian venture capital firm STV looks to raise $500M for 2nd fund

Saudi Arabia's Saudi Technology Ventures, or STV, is looking to pull in at least $500 million for its second investment vehicle, Bloomberg News reported, citing CEO Abdulrahman Tarabzouni.

STV is expecting venture capital investments in the country to increase tenfold by 2025, the report noted, citing a report Oct. 16.