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12 January 2020
HALAL ECONOMY

Saudi Aramco Energy Ventures mulls new $500 million fund

The venture capital firm’s new fund will be financed primarily by returns on the previous investment, which has backed 45 technology companies in the US and Europe since 2012.

Saudi Aramco Energy Ventures is keen on investing in China as it pivots its focus towards Asian markets/Bloomberg


Saudi Aramco Energy Ventures, a unit of the Kingdom’s energy company, plans to launch a new $500 million fund this year to boost investments in the technology sector, reported Bloomberg.

Majid Mufti, the CEO of Saudi Aramco Energy Ventures, said that the new fund will also be around $500 million in size.

Mufti said that the Dhahran-based venture capital firm is also considering establishing its presence in Beijing, in addition to its representative offices in Houston, London as well as Aberdeen and Oslo.

Saudi Aramco Energy Ventures is keen on investing in China as it pivots its focus towards Asian markets and the office being launched in Beijing will help execute its investment strategy, added Mufti.

 

 


RELATED STORIES: Saudi Aramco Energy Ventures Saudi Aramco


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