Riyadh - Sharikat Mubasher: Wa’ed Ventures, the investment arm of the Saudi giant Aramco, turned its main focus to investing in semiconductors, space technology, artificial intelligence (AI), cybersecurity, sustainability, and biotechnology sectors, according to Managing Director Fahad Alidi.

The investment fund evaluates new investments in the Saudi fintech sector as it is one of the most thriving sectors for startups in the Kingdom, Alidi stated in an interview with Asharq Business.

He clarified that Wa’ed Ventures dedicated around 30% to 40% of its total allocations to invest in global markets.

Speaking about global expansions, Alidi noted that Wa’ed Ventures studies investing in new markets in the US and Europe and plans to secure more investments in South Korea.

It is worth noting that Wa’ed Venture participated in a $15 million Series B Round for the South Korean chipmaker Rebellions and led another $6.5 million pre-Series A round for aiXplain.