STV will invest about $100m per year in areas like artificial intelligence, virtual reality, banking, logistics and digital health from the fourth quarter of this year.
Telecommunications firm Saudi Telecom has formed a $500m corporate venturing fund called STV that it expects to begin investing by the fourth quarter of 2017, Reuters reported yesterday.
The Saudi Arabia-based company has since late 2011 invested in IT, telecom, media and entertainment companies through an independently managed venture capital fund called STC Ventures.
The new fund will also be managed independently and will target companies developing artificial intelligence, virtual reality, banking, logistics and digital health technology and services. It…
