Aramco has allocated an additional $4 billion to its global venture capital arm, Aramco Ventures. It will more than double the capital allotted to Aramco Ventures, increasing its total investment allocation from $3 billion to $7 billion. It will take Aramco’s overall venture capital allocation to $7.5bn, which also includes the $500 million venture capital fund Wa’ed Ventures that focuses on the start-up ecosystem in the Kingdom of Saudi Arabia.
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Saudi Aramco is more than doubling funding to its venture capital arm by injecting an additional $4 billion funding, the Saudi state oil giant said on Wednesday.
The fresh funding will raise Aramco’s total investment allocation to its unit Aramco .
Saudi Aramco Boosts Venture Capital Arm With $4 Billion New Funds menafn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from menafn.com Daily Mail and Mail on Sunday newspapers.
Aramco expands global venture capital program with $4bn funds injection finanznachrichten.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finanznachrichten.de Daily Mail and Mail on Sunday newspapers.