Saudi Telecom Co.’s (STC) newly established $500 million digital venture capital fund is expected to make higher return on investment (ROI) than the world average rates, chief executive officer, Khaled Biyari, told CNBC Arabia in an interview.
The fund will benefit from the assets and capabilities of STC, which will provide a competitive edge to the start-up, he added.
The fund will invest in the digital and technology sectors, as well as the development of the digital system in the region.
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