TLDR:
- Saudi Aramco has allocated an additional $4bn to its global venture capital arm, Aramco Ventures, bringing its total investment allocation to $7bn.
- Aramco Ventures will focus on advancing the company’s long-term strategy, including new energies, chemicals and transition materials, diversified industrial businesses, and digital technologies.
Saudi Aramco, the state energy giant of Saudi Arabia, has announced that it is allocating an additional $4 billion to its global venture capital arm, Aramco Ventures. This brings the company’s total investment allocation to $7.5 billion, including the $500 million venture capital fund Wa’ed Ventures that focuses on the start-up ecosystem in Saudi Arabia. Aramco Ventures aims to provide financial backing to businesses at various stages of development around the world and contribute to Aramco’s long-term objectives. The venture capital arm will focus on advancing Aramco’s long-term strategy, which includes new energies, chemicals and transition materials, diversified industrial businesses, and digital technologies.
