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 <p>Saudi Arabia’s leading oil refinery company Aramco doubled its venture capital funds to a tilt reaching $4 billion on Wednesday. The Saudi Aramco Venture Capital now boasts of funds worth $7 billion and plans to diversify its investments. Early January this year, the Saudi Aramco Venture’s funds stood at $3 billion and the new additional injection of $4 billion takes it to a threshold of $7 billion. The allocation of new funds moved its investing strength from $3 billion to $7 billion in 2024.</p>
 <p><strong>Also Read: Gold &amp; Oil Prices Continue To Fall as US Dollar Grows Stronger</strong></p>
 <p><strong>“Through <a rel="noopener noreferrer nofollow" title="Aramco" href="https://thebittimes.com/tag/aramco.html">Aramco</a> Ventures, we aim to support pioneers with big ambitions, and ultimately help bring their ideas to life,”</strong> read a statement from the leading oil giant.</p>
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 <h2 class="wp-block-heading" id="h-saudi-arabia-s-aramco-venture-now-boasts-7-billion-in-funds-in-2024">Saudi Arabia’s Aramco Venture Now Boasts $7 Billion in Funds in 2024</h2>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="792" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" alt="Saudi Arabia King MBS Mohammed Bin Salman" class="wp-image-91761 ewww_webp" sizes="(max-width: 1024px) 100vw, 1024px" data-src-img="https://cdn.thebittimes.com/images/2024/01/18/a38ea8987cc2aa6a7a1fcc401338a3d5.webp" data-src-webp="https://cdn.thebittimes.com/images/2024/01/18/a38ea8987cc2aa6a7a1fcc401338a3d5.webp.webp" data-srcset-webp="https://cdn.thebittimes.com/images/2024/01/18/a38ea8987cc2aa6a7a1fcc401338a3d5.webp.webp 1024w, https://cdn.thebittimes.com/images/2024/01/18/a38ea8987cc2aa6a7a1fcc401338a3d5.webp.webp 300w, https://cdn.thebittimes.com/images/2024/01/18/a38ea8987cc2aa6a7a1fcc401338a3d5.webp.webp 768w, https://cdn.thebittimes.com/images/2024/01/18/a38ea8987cc2aa6a7a1fcc401338a3d5.webp.webp 1536w, https://cdn.thebittimes.com/images/2024/01/18/a38ea8987cc2aa6a7a1fcc401338a3d5.webp.webp 380w, https://cdn.thebittimes.com/images/2024/01/18/a38ea8987cc2aa6a7a1fcc401338a3d5.webp.webp 550w, https://cdn.thebittimes.com/images/2024/01/18/a38ea8987cc2aa6a7a1fcc401338a3d5.webp.webp 800w, https://cdn.thebittimes.com/images/2024/01/18/a38ea8987cc2aa6a7a1fcc401338a3d5.webp.webp 1160w, https://cdn.thebittimes.com/images/2024/01/18/a38ea8987cc2aa6a7a1fcc401338a3d5.webp.webp 1920w" data-srcset-img="https://cdn.thebittimes.com/images/2024/01/18/a38ea8987cc2aa6a7a1fcc401338a3d5.webp 1024w, https://cdn.thebittimes.com/images/2024/01/18/a38ea8987cc2aa6a7a1fcc401338a3d5.webp 300w, https://cdn.thebittimes.com/images/2024/01/18/a38ea8987cc2aa6a7a1fcc401338a3d5.webp 768w, https://cdn.thebittimes.com/images/2024/01/18/a38ea8987cc2aa6a7a1fcc401338a3d5.webp 1536w, https://cdn.thebittimes.com/images/2024/01/18/a38ea8987cc2aa6a7a1fcc401338a3d5.webp 380w, https://cdn.thebittimes.com/images/2024/01/18/a38ea8987cc2aa6a7a1fcc401338a3d5.webp 550w, https://cdn.thebittimes.com/images/2024/01/18/a38ea8987cc2aa6a7a1fcc401338a3d5.webp 800w, https://cdn.thebittimes.com/images/2024/01/18/a38ea8987cc2aa6a7a1fcc401338a3d5.webp 1160w, https://cdn.thebittimes.com/images/2024/01/18/a38ea8987cc2aa6a7a1fcc401338a3d5.webp 1920w" data-eio="j">
  <noscript><img decoding="async" width="1024" height="792" src="https://cdn.thebittimes.com/images/2024/01/18/a38ea8987cc2aa6a7a1fcc401338a3d5.webp" alt="Saudi Arabia King MBS Mohammed Bin Salman" class="wp-image-91761" srcset="https://cdn.thebittimes.com/images/2024/01/18/a38ea8987cc2aa6a7a1fcc401338a3d5.webp 1024w, https://cdn.thebittimes.com/images/2024/01/18/a38ea8987cc2aa6a7a1fcc401338a3d5.webp 300w, https://cdn.thebittimes.com/images/2024/01/18/a38ea8987cc2aa6a7a1fcc401338a3d5.webp 768w, https://cdn.thebittimes.com/images/2024/01/18/a38ea8987cc2aa6a7a1fcc401338a3d5.webp 1536w, https://cdn.thebittimes.com/images/2024/01/18/a38ea8987cc2aa6a7a1fcc401338a3d5.webp 380w, https://cdn.thebittimes.com/images/2024/01/18/a38ea8987cc2aa6a7a1fcc401338a3d5.webp 550w, https://cdn.thebittimes.com/images/2024/01/18/a38ea8987cc2aa6a7a1fcc401338a3d5.webp 800w, https://cdn.thebittimes.com/images/2024/01/18/a38ea8987cc2aa6a7a1fcc401338a3d5.webp 1160w, https://cdn.thebittimes.com/images/2024/01/18/a38ea8987cc2aa6a7a1fcc401338a3d5.webp 1920w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Source: (Bandar Aljaloud / Saudi Royal Palace via AP)
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 <p>The funding provides <a rel="noopener noreferrer nofollow" title="Saudi Aramco" href="https://thebittimes.com/tag/saudi-aramco.html">Saudi Aramco</a> VC to explore diverse opportunities other than oil and gas. The decision to double the VC funds highlights <a rel="noopener noreferrer nofollow" title="Saudi Aramco" href="https://thebittimes.com/tag/saudi-aramco.html">Saudi Aramco</a>’s growing significance in global ambitions and aspirations.</p>
 <p><strong>Also Read: 3 Countries Agree To Launch BRICS Currency To Challenge US Dollar</strong></p>
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 <p>The increase in VC funds provides <a rel="noopener noreferrer nofollow" title="Saudi Aramco" href="https://thebittimes.com/tag/saudi-aramco.html">Saudi Aramco</a> with large diversification opportunities in the coming months. The move can pave the way for international collaborations with innovative start-ups that can drive up profits.</p>
 <p>In addition, the new funding will also help <a rel="noopener noreferrer nofollow" title="Aramco" href="https://thebittimes.com/tag/aramco.html">Aramco</a>’s long-term strategy and be on the lookout for disruptive technologies. The long-term strategy includes focusing on new energies, chemicals, and transition materials. The VC arm will also diversify industrial businesses, and give a boost to digital technologies that can make a difference.</p>
 <p><strong>Also Read: BRICS: Investors Bet Indian Rupee Will Rise, US Dollar To Decline</strong></p>
 <p><strong>“Innovation is key to addressing some of the fundamental challenges facing the world today, including the energy transition,” </strong>said Ahmad Al Khowaiter, <a rel="noopener noreferrer nofollow" title="Aramco" href="https://thebittimes.com/tag/aramco.html">Aramco</a> Executive Vice President of Technology &amp; Innovation. He added, <strong>“By injecting an additional $4 billion in funding over the next four years, we intend to provide the financial backing required to take game-changing solutions to the next level”.</strong></p>
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<div class="cs-entry__tags">
 <ul>
  <li>Aramco</li>
  <li>Saudi Arabia</li>
  <li>Saudi Aramco</li>
  <li>Saudi Aramco Venture Capital</li>
 </ul>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/saudi-arabia-boosts-aramco-venture-with-additional-4-billion-in-funds-tbt76949.html">https://thebittimes.com/saudi-arabia-boosts-aramco-venture-with-additional-4-billion-in-funds-tbt76949.html</a></p>

Saudi Arabia Boosts Aramco Venture With Additional $4 Billion in Funds

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