Press Release

Dhahran, Saudi Arabia, January 17, 2024 – Today, Prosperity7 is pleased to announce that its fund size has increased from USD 1 billion to USD 3 billion. The newly injected fund will continue to be deployed to support global early to growth-stage enterprises with disruptive technologies, driving the development of next-generation technologies and transformational business models that will bring prosperity and positive impact on a vast scale.

Since it’s conception in 2020, Prosperity7 has invested in more than 40 companies globally, across a number of cutting-edge sectors such as Enterprise Tech, Fintech, AI, B2B, Consumer Tech and MedTech. Backed by Aramco, Prosperity7 supports exceptional enterprises with a long-term view, enabling them to accelerate global expansion and realize scalable growth by leveraging its unique global network and resources.

Backed by the most profitable company in the world, Prosperity7 will continue backing entrepreneurs at the helm of next-generation technologies every step of the way, accelerating the growth of life-changing solutions for humanity. With offices in Dhahran, Palo Alto, New York, Beijing, and Shanghai, Prosperity7’s diverse and global team has deep knowledge of world needs from a hyper-local perspective and empowers visionary entrepreneurs to create lasting positive change on a global scale.

Prosperity7 is a venture capital fund of Aramco Ventures. Aramco Ventures also announced today that its total investment capabilities will increase from $ 3 billion to $ 7 billion between 2024 and 2027, with investment focuses on new energies, chemicals and the materials transition, diversified industrial businesses, and digital technologies. With stronger investment capabilities, it will provide the financial backing required for game-changing solutions around the world and provide crucial impetus to businesses at various stages of development.