Aramco Supercharges Venture Capital with $4B Injection 

Aramco, the world-renowned integrated energy and chemicals giant, is making a bold move in the realm of venture capital. Under the astute legal guidance of General Counsel Nabeel A. Al Mansour (pictured), the company has decided to inject an additional $4 billion into its venture capital arm, Aramco Ventures. This move sees a remarkable doubling of the capital originally allocated, skyrocketing from $3 billion to a substantial $7 billion. 

This substantial capital increase brings Aramco’s overall venture capital allocation to an impressive $7.5 billion, encompassing the existing $500 million Wa’ed Ventures fund dedicated to fostering the startup ecosystem in the Kingdom of Saudi Arabia. 

The strategic decision underscores the growing significance of Aramco’s venture capital program. The infusion of funds aims to propel disruptive technologies, diversify Aramco’s portfolio, and foster collaborations with forward-thinking startups. In doing so, it aligns with the company’s long-term strategy, emphasizing new energies, chemicals, transition materials, diversified industrial businesses, and digital technologies. 

Before this augmentation, Aramco Ventures managed three distinct funds: the Digital/Industrial Fund ($500 million), focusing on strategically significant technologies; the Prosperity7 Fund ($1 billion), invested in disruptive ventures beyond the energy sector; and the Sustainability Fund ($1.5 billion), dedicated to startups supporting Aramco’s vision of achieving net-zero greenhouse gas emissions by 2050.