Saudi Venture Capital invests $10m to develop Kingdom’s healthcare sector

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Updated 02 November 2022
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Saudi Venture Capital invests $10m to develop Kingdom’s healthcare sector

Saudi Venture Capital has announced its investment of $10 million in TVM Capital Healthcare’s Afiyah Fund. It will help in the growth of innovative companies in the Saudi healthcare sector.

The subscription agreement was signed by Dr. Nabeel Koshak, CEO and board member at SVC, and Dr. Helmut Schuehsler, chairman and CEO at TVM Capital Healthcare. The signing ceremony was attended by Mazin Al-Ghunaim, CEO of Saudi SME Bank.

TVM Capital Healthcare is a specialized healthcare expansion and growth capital private equity firm, operating out of Riyadh and Dubai in the Middle East, as well as Singapore in the Southeast Asia region.

Commenting on the investment, Al-Ghunaim said that SVC’s mandate is to develop the venture capital and private equity ecosystems in the Kingdom, and to increase investment opportunities in startups and SMEs, thus supporting their success rate and continuous growth to successfully contribute toward achieving Saudi Vision 2030.

Dr. Koshak said: “The investment in TVM Capital Healthcare’s Afiyah Fund is part of SVC’s Investment in Funds Program, which is a continuation of the company’s series of investments and an implementation of its strategy related to developing and sustaining financing for startups and SMEs, especially in strategic sectors, such as healthcare.”

Dr. Schuehsler said: “We are raising this fund to finance innovative healthcare companies in the country and selectively bring highly innovative foreign companies into the Kingdom.”

The signing ceremony was also attended by Nora Alsarhan, chief investment officer at SVC, and Haifa Bahaian, chief legal officer at SVC. TVM Capital Healthcare’s managing partners Tristan de Boysson and Orhan Osmansoy, and operating partner Othman Abahussein were also present.


STC Bank launches business portal for businesses, entrepreneurs and freelancers

Updated 10 February 2026
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STC Bank launches business portal for businesses, entrepreneurs and freelancers

STC Bank has launched a business portal as part of its strategy to provide integrated and Shariah-compliant digital banking services targeting multinationals, entrepreneurs and self-employed. The move reflects the bank’s commitment to enhancing and facilitating the banking experience through modern digital solutions.

The Business Portal is the first integrated digital experience that enables business customers to start their banking relationships and manage their entire business through a single digital platform, designed to meet the needs of various sectors, providing an easy and flexible banking journey characterized by simplicity and ease of use.

The portal provides a comprehensive dashboard that allows business owners to efficiently manage users, financial structuring and authorization matrix, where users can be added, assigned, and manage access to banking services flexibly within an advanced digital experience.

The Business Portal also includes a full range of banking services, most notably payments and remittances, beneficiary management, statement review and extraction, digital certificate issuance, as well as employee salary management, giving business owners full control over their financial operations through a unified and secure platform.

STC Bank allows registration and availing of business portal services through its website, while ensuring the highest levels of security using the latest cybersecurity and advanced financial technologies.

The launch of the upgraded Business Portal is part of STC Bank’s digital transformation journey toward building an integrated digital bank, which provides innovative banking solutions that contribute to supporting the growth of the business sector and enhancing the digital economy in the Kingdom.