At the World Economic Forum’s annual gathering in Davos, Switzerland, Amin Nasser, the Chief Executive Officer of Saudi Aramco, announced a significant boost in venture capital commitments. The company, recognized as the largest integrated energy and chemical entity globally, is set on amplifying its investment in startups and emergent technologies as part of its strategy to diversify and transition towards a future with lower carbon emissions.
In an exclusive conversation, Nasser revealed that Saudi Aramco’s board has recently sanctioned an additional infusion of $4 billion into Aramco Ventures, the company’s investment arm. This substantial increase raises the total investment fund to $7.5 billion. The bolstered fund is indicative of Saudi Aramco’s proactive approach to fostering innovation and supporting technological advancements that align with its sustainability goals.