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Since 2013, STC Ventures has backed 1 African startup across 4 disclosed funding rounds totaling $73.4M, most heavily in Quick Commerce.
STC Ventures is an independently managed venture capital fund whose anchor investor is Saudi Telecom Company. Public profiles and contact information indicate that STC Ventures is based in Dubai, United Arab Emirates, with offices in Dubai Media City. The fund has been set up to invest in innovative technology companies and is managed by specialist investment professionals. In Africa, STC Ventures has been an active institutional investor in technology enabled mobility and commerce. According to available investment records, the fund participated in four funding rounds for Careem between 2013 and 2015, across seed, early venture, Series B, and Series C stages. These investments were focused on Egypt and supported Careem’s rides, deliveries, and wallet payments services, aligning with STC Ventures’ focus on information technology, telecommunications, and digital media sectors. Across these Careem investments, STC Ventures has co invested alongside regional and international partners such as BECO Capital, Al Tayyar Travel Group, Abraaj Group, Wamda Capital, Lumia Capital, Kuwait Investment Authority, and IRIS. This collaboration reflects the fund’s role in syndicating growth capital for high potential Middle East and North Africa technology companies, and in supporting the scale up of digital platforms in African markets.
Data updated · Sep 6, 2026
STC Ventures has backed 1 African startup across 4 disclosed funding rounds tracked on Liners, totaling $73.4M since 2013.
Mostly Series C: 1 of its 4 tracked rounds are at that stage, followed by Series B (1).
Its tracked rounds lean toward Quick Commerce (4), Travel & Mobility (4).
STC Ventures most often shares rounds with BECO Capital (2 shared deals), Al Tayyar Travel Group (2 shared deals), Abraaj Group (1 shared deal).
STC Ventures is an independently managed venture capital fund whose anchor investor is Saudi Telecom Company. Public contact records list its office in Dubai Media City in Dubai, United Arab Emirates. The fund focuses on equity investments in innovative technology companies.
Based on disclosed investment activity, STC Ventures has invested in Careem, a rides, deliveries, and wallet payments platform operating in Egypt. The fund participated in multiple rounds that supported Careem’s expansion in the region, including its operations in African markets.
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