Red Sea Global, Bunat VC Team Up To Launch AI Venture Fund To Back Saudi Startups

Saudi Arabia-based regenerative tourism developer Red Sea Global (RSG) has partnered with London-based venture capital firm Bunat Ventures Limited to launch a venture fund focused on artificial intelligence (AI)-driven startups in Saudi Arabia. 

The AI Venture Fund will invest in early- and growth-stage startups that are either AI-native or use the technology as a core component of their business models. Over the next three years, the fund plans to support around 25 startups through pre-seed and growth-stage investments, with a focus on Saudi-based founders and Saudi-founded global companies expanding into the Kingdom. 

The fund is expected to support collaboration between investors, academic institutions, and technology partners, while facilitating knowledge exchange and contributing to job creation within the sector. In addition to funding, the initiative will give investee companies access to RSG’s operational environment, enabling them to pilot and test their technologies within its projects.

In a statement, Sultan Moraished, Group Head of Technology and Corporate Excellence at Red Sea Global, said, “At Red Sea Global, we view innovation as a catalyst for a regenerative future. This partnership with Bunat VC reflects our belief that technology is fundamental to sustainability, enabling us to invest in bold ideas that will accelerate the Kingdom’s digital transformation and inspire global progress.”  

Khaled Zainalabedin, CEO and Managing Partner at Bunat VC, said, “Our collaboration with Red Sea Global brings together visionary development and agile venture capital. Together, we are building a platform to empower the next generation of Saudi AI pioneers who will redefine industries, shape communities, and strengthen Saudi Arabia’s leadership in the global innovation arena.” 

Pictured in the lead image are Khaled Zainalabedin, CEO and Managing Partner at Bunat Ventures Limited (L), and Sultan Moraished, Group Head of Technology and Corporate Excellence at RSG (R). Image courtesy of RSG.