stc’s subsidiary invests in Saudi debt platform: Report

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stc Group’s venture capital arm, Tali Ventures, has invested in Tarmeez Capital, a Saudi debt investment platform planning a push into private credit, Bloomberg reported.

Tali Ventures took a minority stake in the Riyadh-based startup, 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) for its first private credit fund over the coming two years.

He highlighted that Tarmeez is planning an initial public offering (IPO) over the coming three years, as it is 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 launched Tali Ventures in March 2024 to serve as a catalyst for innovative startups.