Following SAEV’s incorporation in April 2012, the first fund investment, to Braemar Energy Ventures Fund III, was completed in June.
It was followed by a second fund and two direct investments approved in December 2012.
While Aramco Energy Ventures was incorporated to support venturing activities in North America, engagement between SAEV and the Norway-based Energy Capital Management was entered into to manage all venture-related activities for upstream investments in Europe.
Individual investments are expected to range from $1 million to $30 million per company, depending on the stage of development, size of opportunity, strategic relevance to Saudi Aramco and capital intensity.
SAEV will invest in technologies of strategic importance that will enhance Saudi Aramco’s position as a technology leader in the global energy industry and support its broader Kingdomwide initiatives in advancing sustainable domestic energy and water consumption.
SAEV’s investments will ultimately contribute to Saudi Aramco’s economic strategy as innovations are applied to new commercial opportunities, cost reduction and performance improvement.
We seek to invest in entrepreneurs commercializing breakthrough technologies that are applicable to our operations, or more generally of strategic importance to the Kingdom.
We invest worldwide via our global investment teams located in Dhahran, the United States and Europe.
We will consider investments in companies from seed stage to growth venture capital.
We seek technologies from all disciplines in the following industry sectors:
- Upstream oil and gas
- Downstream oil and gas and value-added products
- Renewable energy
- Energy efficiency
For more information, visit Saudi Aramco Energy Ventures