“Saudi Aramco Invests $4 Billion in Venture Capital Program”

Aramco Boosts Venture Capital Program with $4 Billion Injection

Saudi Aramco plans to significantly increase its venture capital program by injecting an additional $4 billion, more than doubling the total capital allocated to Aramco Ventures. The move aims to provide financial backing for transformative solutions and support businesses at various stages of development globally. Before this new allocation, Aramco Ventures managed three funds: the Digital/Industrial Fund ($500 million), the Prosperity7 Fund ($1 billion), and the Sustainability Fund ($1.5 billion). The venture capital program aligns with Aramco’s long-term strategy, focusing on new energies, chemicals, transition materials, diversified industrial businesses, and digital technologies.

Ahmad Al Khowaiter, Aramco Executive Vice President of Technology and Innovation, stated, “By injecting an additional $4 billion in funding over the next four years, we intend to provide the financial backing required to take game-changing solutions to the next level.”