stc's arm invests in debt platform Tarmeez Capital: Report
Tali Ventures took a minority stake in the Riyadh-based firm, Tarmeez CEO Nasser Alsaadoun said, without disclosing details on the deal.
Tarmeez expects to get its asset management license in Saudi Arabia later this year, allowing it to start originating and managing credit to private companies, he added.
Alsaadoun also indicated that the company aims to raise up to SAR 1 billion ($267 million) to its first private credit fund over the coming two years.
He highlighted that Tarmeez mulls also an initial public offering over the coming three years, as it currently facilitating the conclusion of debt deals between companies and investors, with a primary focus on sukuk management.
According to data available with Argaam, stc Group, the Kingdom's engine of digital transformation, announced in March 2024 the launch of its Corporate Venture Capital Arm, tali ventures, which serves as a catalyst for innovative startups, leveraging stc Group's ecosystem.
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