Sabic: New Venture Capital Arm
The Saudi Basic Industries Corporation (Sabic) has announced the launch of a new global corporate venture capital arm, Sabic Ventures, in the Netherlands, with the primary goal of seeking out innovative technologies and businesses consistent with the company’s global strategy. Sabic Ventures aims to build up a portfolio of technology options for the company’s future businesses. It will do this by investing directly both in seed stage, early stage and late stage companies. The new organization will both lead investment, co-lead and invest alongside venture capitalists.
Sabic Ventures will be funded by an Innovation Fund, which will be managed by the organization. The Fund will cover investments in start-up companies. Amongst the areas which have been designated for investments are advanced materials and composites; alternative feedstocks for chemicals and materials; and alternative energy and cleantech. At the same time, the organization will be constantly exploring new areas of interest.
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