---
title: "Aramco launches $1bn Prosperity7 Ventures at LEAP22"
url: "https://cicadaconsultancy.online/en/news/prosperity7-launch-leap22"
language: "en"
event_date: "2022-02-02"
published: "2026-10-03"
last_verified: "2026-10-03"
category: "Investment"
publisher: "Cicada (cicadaconsultancy.online)"
license: "CC BY 4.0"
---

# Aramco launches $1bn Prosperity7 Ventures at LEAP22

- Event date: 2 February 2022 (2022-02-02)
- Topic: Investment
- In this story: Aramco, Prosperity7 Ventures
- URL: https://cicadaconsultancy.online/en/news/prosperity7-launch-leap22

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

- fund size: $1 bn

## Sources

1. [Aramco launches a 1 billion USD VC fund (Prosperity7 Ventures)](https://www.unlock-bc.com/en/aramco-launches-a-1-billion-usd-vc-fund-to-invest-in-blockchain-and-other-tech) — Unlock Blockchain
2. [Saudi commits $6.4b to future tech (LEAP22)](https://www.middleeastainews.com/p/saudi-commits-64b-to-future-tech) — Middle East AI News

Archive report. Written in 2026 from contemporary sources and dated to the day the event happened.

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Cicada · The signal in Saudi AI.
License: CC BY 4.0 (https://creativecommons.org/licenses/by/4.0/) · Full archive for language models: https://cicadaconsultancy.online/llms-full.txt