Aramco, the Saudi Arabian oil giant, has recently launched Prosperity7 Ventures, a venture capital fund that aims to catalyze next-generation technologies and diversify business models. This innovative fund, which operates as the diversified growth arm of Aramco Ventures, a subsidiary of Aramco, presents a unique opportunity for international scalability and impact in the world of venture funding. What sets Prosperity7 Ventures apart from other venture capital firms and funds is its ability to provide unparalleled access and connections to markets in the Middle East, China, and the developing world.
The portfolio of Prosperity7 Ventures covers a wide range of industries, including DeepTech, metaverse technologies, Robotics/AI, MedTech/BioTech, Mobility, SecurityTech, FinTech, eCommerce, Cloud/ Computing, and Foodtech. With investments spread across the globe, Prosperity7 Ventures aims to solve problems that matter to all of us. The fund seeks to invest in ventures that are highly scalable, led by world-class management teams, and possess disruptive technologies and business models. It is important to note that the fund focuses on ventures outside of the energy sector, diversifying Aramco’s investment interests.
Already, Prosperity7 Ventures has made significant investments. One such investment is in Insilico, a Hong Kong-based drug discovery and development company that utilizes machine learning to identify potential drug targets. This investment showcases the fund’s interest in cutting-edge technologies within the MedTech/BioTech industry. Another notable investment is in metaverse technologies, particularly in NEOM, a visionary urban project in Saudi Arabia. NEOM is an ambitious city that aims to bring together cutting-edge technologies to create a sustainable and technologically advanced metropolis.
The metaverse is a virtual universe where digital and physical realities intersect, offering endless possibilities for immersive experiences, social interaction, commerce, and innovation. Aramco’s investments in metaverse technologies through Prosperity7 Ventures aim to shape the future of how we connect, work, and play. By backing these technologies, the fund aims to participate in the creation of digital landscapes that transcend borders and offer new dimensions of exploration and engagement.
NEOM, the futuristic city project in Saudi Arabia, is the perfect host for Prosperity7 Ventures’ involvement in metaverse technologies. The city embodies ambitious goals, envisioning a sustainable and technologically advanced metropolis where cutting-edge technologies converge. Prosperity7 Ventures’ participation in this venture aligns perfectly with NEOM’s vision and contributes to the development of a metaverse within this forward-thinking city.
In summary, Aramco’s Prosperity7 Ventures is not only diversifying its portfolio but also venturing into the exciting and rapidly evolving realm of the metaverse. With investments in various industries and a focus on disruptive technologies and business models, the fund is positioned to play a pivotal role in shaping the future of digital engagement and innovation. Prosperity7 Ventures’ involvement in metaverse technologies, particularly within NEOM, showcases its commitment to driving technological advancements and creating sustainable and technologically advanced cities for the future.
