Wa'ed Ventures

Backed by Aramco, Wa’ed Ventures is a $500 million venture capital fund with the aim to accelerate the development of an integrated startup ecosystem by investing in local tech-based startups and incentivizing global entrepreneurs to localize their tech innovations in the Kingdom.

• Wa’ed Ventures has invested $270 million in over 75 startups so far, supporting Saudi Arabia's entrepreneurial ecosystem
   
• Through its investment in tech startups, it also supports Aramco’s digitalization efforts
   
• By supporting localization of global technologies like AI, drones, and quantum computing, Wa’ed Ventures is working to boost innovation in the Kingdom

Aramco’s efforts to advance Saudi Arabia’s entrepreneurial ecosystem dates back to the early 2010s. To support aspiring entrepreneurs, Aramco established the Saudi Aramco Entrepreneurship Center, also known as Wa’ed, in 2011.

Wa’ed aimed to empower first-time entrepreneurs by helping them further establish their businesses, supporting existing small and midsize enterprises (SMEs) to expand and cultivating an entrepreneurial ecosystem. It did this by providing entrepreneurs with business planning advice, collateral-free loans, and business support services including coaching and mentoring programs.