Red Sea Global (RSG), the developer behind regenerative tourism destinations The Red Sea and AMAALA, has announced a strategic partnership with聽Bunat聽Ventures Limited (Bunat聽VC), to launch a first-of-its-kind venture fund focused on artificial intelligence (AI)-driven startups in the Kingdom of Saudi Arabia.
A New Type Of AI Venture Fund
The AI Venture Fund will invest in early- and growth-stage startups that are either AI-native or leverage AI as a core enabler of their business models. Over the next three years, the Fund aims to support approximately 25 startups through both pre-seed and growth-stage investments.
Beyond capital, the Fund will provide investee companies鈥攑articularly those based in Saudi Arabia鈥攚ith access to world-class infrastructure and a state-of-the-art environment to pilot and validate their technologies within RSG鈥檚 real-world operations.
This partnership is designed to accelerate the development of these startups into national and regional champions in the AI ecosystem.
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Boosting Regional Innovation
鈥淎t Red Sea Global, we view innovation as a catalyst for a regenerative future. This partnership with聽Bunat聽VC reflects our belief that technology is fundamental to sustainability, enabling us to invest in bold ideas that will accelerate the Kingdom鈥檚 digital transformation and inspire global progress,鈥� said Sultan聽Moraished, Group Head of Technology and Corporate Excellence at Red Sea Global.
With a focus on Saudi-based entrepreneurs and Saudi-founded global ventures expanding into the Kingdom, the Fund aims to unlock new pathways for innovation, job creation, and digital excellence.聽It is expected to act as a catalyst for the local innovation ecosystem, fostering collaboration between investors, academia, and technology partners. It will also attract global talent and promote knowledge exchange to ensure long-term value creation and sustainable growth.
Khaled聽Zainalabedin, CEO and Managing Partner at聽Bunat聽VC, added: 鈥淥ur collaboration with Red Sea Global brings together visionary development and agile venture capital. Together, we are building a platform to empower the next generation of Saudi AI pioneers who will redefine industries, shape communities, and strengthen Saudi Arabia鈥檚 leadership in the global innovation arena.鈥�
RSG welcomed its first guests to The Red Sea in 2023 and now聽operates聽10 resorts, as well as Red Sea International Airport (RSI), which receives regular flights from Riyadh, Jeddah, Dubai, and Doha. This year, Shura Island, the heart of The Red Sea, is opening its first resorts, as well as Shura Links, an 18-hole championship golf course.
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