Aramco Boosts Global VC Strategy with $4 Billion Infusion
This capital boost propels Aramco's overall venture capital allocation to $7.5 billion.
Aramco, a Saudi leading player in the global energy and chemicals sector, has announced intentions to inject an additional $4 billion into its global venture capital wing, Aramco Ventures.[1]
This injection will double the initial capital earmarked for Aramco Ventures, pushing its total investment commitment from $3 billion to $7 billion.
This capital boost propels Aramco's overall venture capital allocation to $7.5 billion, including the $500 million venture capital fund, Wa’ed Ventures.
Wa’ed Ventures focuses on nurturing the startup landscape within the Kingdom of Saudi Arabia.
Before this capital injection, Aramco Ventures managed three distinct funds including the Digital/Industrial Fund, armed with $500 million and targeting technologies of strategic importance to Aramco; the Prosperity7 Fund, endowed with a $1 billion investment focus on disruptive technology ventures beyond the energy sector; and the Sustainability Fund, standing at $1.5 billion, investing in startups with the potential to support Aramco’s ambitious target of achieving net-zero carbon emissions by 2050.
