Saudi Stc Group's venture capital arm invests in Tarmeez Capital
Tarmeez Capital CEO Nasser Alsaadoun said the investment will enable the company to scale its offerings in the sukuk and debt markets. To date, Tarmeez has facilitated over 2 billion riyals ($ 533 million) in Sharia-compliant financing.
The financial details of the investment were not disclosed.
Last year, Tali Ventures, which focuses on strategic investments in high-growth companies from early to late stages, led a USD 10 million investment in NorthLadder, a leading device trade-in platform.
Saudi Arabia aims to expand its sukuk and debt market to SAR 954 billion by 2030, according to the Capital Market Authority.
(Writing by Brinda Darasha; editing by Seban Scaria)
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