Saudi Technology Ventures, Meta partner to scale up tech ecosystem in region

RIYADH: Saudi Technology Ventures has partnered with Meta — formerly Facebook — to scale up the tech ecosystem in the Kingdom and the Middle East and North Africa region.

The $500 million technology venture capital fund plans to do so through building its technical capability and enabling its portfolio companies, it said in a statement. 

As part of the deal Meta will provide strategic and financial incentives to serve STV’s objectives towards its portfolio and the broader ecosystem.