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Saudi Telecom's $500 mln fund expects first deal by Q4 -CEO
May 25, 2017 / 10:29 AM / 4 months ago

Saudi Telecom's $500 mln fund expects first deal by Q4 -CEO

RIYADH, May 25 (Reuters) - Saudi Telecom Co’s (STC) $500 million venture capital fund expects to complete its first transaction by the fourth quarter of this year, the fund’s chief executive said in Riyadh on Thursday.

STVentures’ CEO Abdulrahman Tarabzouni told reporters initial investments were currently being studied.

STC CEO Khaled Biyari said the $500 million would be invested over the next four to five years. (Reporting Katie Paul; writing by Alexander Cornwell; editing by Jason Neely)

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