FUNDS IN FOCUS: ARAMCO & WA'ED VENTURES

The discussion centers around the venture capital landscape, particularly focusing on Aramco's approach to investment through Prosperity7 and WAIT Ventures. Raed Tawali, Executive Managing Director of Prosperity7, explains how their fund invests in diverse technologies, including AI and medical sectors, while also aligning with Aramco's strategic goals. Mohamed Hisham Hassan, CIO of WAIT Ventures, details their focus on enabling the Saudi startup ecosystem by addressing gaps through loans, incubation, and VC investments. The conversation explores the balance between profit-making and achieving a broader vision for Aramco's investments. Raed highlights Prosperity7's international presence and collaborative approach with other VCs. Mohamed describes the criteria for founders seeking funding from WAIT Ventures, emphasizing execution capability and market potential. Both speakers share examples of successful portfolio companies and their impact on innovation in Saudi Arabia and beyond. The discussion touches on the challenges and opportunities of localizing startups in Saudi Arabia, and WAIT Ventures' role in facilitating this process.