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Prosperity7 Ventures
Saudi Arabia
- Dhahran
- 14/11/2022
- Series A
- $49,200,000
We are the $1B diversified venture capital fund of Aramco Ventures, a subsidiary of Aramco. We invest globally in startups with a long-term view. We support the development of next-generation technologies and business models that will bring prosperity and positive impact on a vast scale.
Our lineage of explorers and entrepreneurs influences everything we do. Our history is built on taking big ideas and turning them into big realities. Our name references the first well to strike oil in Saudi Arabia after six attempts. Prosperity Well, the seventh well, was the largest oil find in the world. This find and ensuing development transformed the lives of generations and has enabled growth and prosperity around the world.
As dedicated long-term partners to our entrepreneurs and companies, we move quickly as we support their growth and success. At Prosperity7 Ventures we partner with today’s pioneers and explorers to enable continued global growth and transformation.
- Industry Venture Capital and Private Equity Principals
- Website https://www.prosperity7vc.com/
- LinkedIn https://www.linkedin.com/company/prosperity7-ventures/
Related People
Joe ChangCo Founder
China -
Changning District, Shanghai
China based executive currently Managing Director and the senior leader for Prosperity 7 Ventures in China.
Kellogg MBA with over two decades of multi-industry experience in venture investments, strategy consulting, mergers & acquisitions & alliances, and operations, based largely in China since 1995. Broad expertise and experience across strategy formulation, deal shaping, marketing, sales and distribution, organization, and operations. Successful line management record including P&L ownership, growth and turnaround.
Prosperity 7 is Saudi Aramco’s new $1B Diversification fund, named after the very first well that discovered oil in the Saudi Arabian desert and the initial source for wealth creation for Aramco and the Kingdom. Like the Prosperity #7 well before it, the fund aims to generate the next source of wealth for the company and the Kingdom of Saudi Arabia.
We aim to leverage the vast array of assets of Saudi Aramco’s global business, currently valued at over $2 Trillion extending well beyond upstream and downstream O&G and Petrochemicals operations to our own hospitals, airline, shipping and logistics companies, as well as the assets and projects of the Kingdom of Saudi Arabia (especially those tied to the KSA’s Vision 2030) to help establish and refine product market fit and accelerate growth for our investments. As one of the largest technology adopters in the world and one of the largest customers for IT, we are passionate about the possibilities and applications of technology, and eager to work with exemplary founders and start-ups to help solve big problems, create new industries, and change the world and how business is done in areas ranging from food science, to healthcare, to financial services and much more.
The fund has a large focus on China (split about half and half with the US), whom we believe is well positioned given environment and policy and other factors to take innovation leadership in technologies and applications in Artificial Intelligence, 5G, Industrial Automation, Robotics, Cloud, Data & Analytics, IoT and Blockchain Services.
If you are a start-up with disruptive innovation and world-class engineering and commercial talent with the potential to create new industries and change the world, let’s talk.
https://www.prosperity7vc.com/
https://www.linkedin.com/company/prosperity7-ventures
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