We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Sat 11 Jan 2020 02:24 PM

Font Size

- Aa +

Saudi Aramco unit plans to launch new $500m fund

Saudi Aramco Energy Ventures eyes new fund after completing $500m in investments

Saudi Aramco unit plans to launch new $500m fund

Saudi Aramco Energy Ventures, a unit of the kingdom’s energy company, is preparing to start a new fund this year after completing $500 million in investments.

The new fund will also be roughly $500 million in size, Majid Mufti, the company’s chief executive officer, said in an interview on the sidelines of an energy conference in Abu Dhabi.

It will be financed primarily by returns on the previous investment, which has backed 45 technology companies, primarily in the US and Europe, since 2012.

The venture capital firm opened an office in Beijing in December, Mufti said.

Arabian Business: why we're going behind a paywall

For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Real news, real analysis and real insight have real value – especially at a time like this. Unlimited access ArabianBusiness.com can be unlocked for as little as $4.75 per month. Click here for more details.