Saudi Aramco announced the launch of the investment capital fund (Prosperity7) with a capital of one billion dollars. , at the LEAP 22 conference, which is taking place in Riyadh. The fund is designed to be global with a long-term vision, aiming to support the development of the generation of future technologies and new business patterns that make a positive impact on the largest scale. Al-Khowaiter explained that Saudi Aramco has enormous resources, and its business includes many of economic sectors on both the local and global scales, which enables the company to be an ideal partner for startup companies through the (Prosperity7) Fund, which gives companies an unrivaled opportunity to enhance expansion and influence. pressing challenges in the world.It also supports building long-term partnerships, providing appropriate guidance, and giving way to access a network of companies with entrepreneurs, capital investors, and experts around the world.The fund aims to direct its investments towards leading companies in various fields and sectors, Which has innovations, technologies and solutions that are expandable and changeable. The investments include startups in many sectors in their early stages, including (blockchain) technologies, financial and industrial technologies, healthcare, and education solutions. It is noteworthy that the fund’s headquarters is located in Dhahran, with branches in; Palo Alto, New York, Beijing, and Shanghai. Named (Prosperity7) after the first oil well discovered in the Kingdom, which bears the name (Bir Al-Khair), Well No. 7, the Prosperity7 Fund will work on drawing inspiration from the legacy of the early explorers in turning big ideas into tangible facts on the ground.
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