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Ex-Google Executive Raising $1 Billion Middle East Tech Fund

  • Saudi Arabia-based STV’s fund would be region’s biggest
  • Interest in Middle East tech firms rising amid a slew of deals

STV, a venture capital firm started by ex-Google executive Abdulrahman Tarabzouni, is looking to raise at least $1 billion for its second Middle East technology investment fund, making it potentially the biggest fund of its kind in the region, according to people familiar with the matter.

The company, formed in 2017 with $500 million for its first fund provided entirely by Saudi Telecom Co., has started talks with other potential backers, including Middle East sovereign wealth funds and international pension funds and endowments, the people said, asking not to be identified as the information is private.