Aramco launches $1bn Prosperity7 Ventures at LEAP22
By Cicada DeskEvent date: 1 min read
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In brief
Aramco publicly launched Prosperity7 Ventures, a $1 billion venture fund, on 2 February 2022 at LEAP22, although it had operated for more than a year.
Aramco publicly launched Prosperity7 Ventures, a $1 billion venture fund, on 2 February 2022 at LEAP22, although it had operated for more than a year. Announced by Aramco Chief Technology Officer Ahmad Al-Khowaiter, the fund invests globally in early-stage technology, from enterprise tech and fintech to industrial tech and health care, and is headquartered in Dhahran with offices in the United States and China.
Its name refers to Dammam Well No. 7, Saudi Arabia's first commercially productive oil well.
Prosperity7 has since become a significant backer of AI companies.
Key figures
- $1bnfund size
Sources
This report is compiled from the sources below. Cicada links to every source we rely on.
- 1Aramco launches a 1 billion USD VC fund (Prosperity7 Ventures) Unlock Blockchain
- 2Saudi commits $6.4b to future tech (LEAP22) Middle East AI News
Archive report. Written in 2026 from contemporary sources and dated to the day the event happened.
Cite this story
Cicada Desk. "Aramco launches $1bn Prosperity7 Ventures at LEAP22". Cicada, 2 February 2022. https://cicadaconsultancy.online/en/news/prosperity7-launch-leap22
Free to quote and reuse with attribution under CC BY 4.0.
