Saudi Arabia’s Vision 2030 is a blueprint for an ambitious massive economic diversification roadmap, cutting across all sectors, with far-reaching goals and implementation plans. It is a formidable plan that will transform the country into a vibrant and diverse economy and investment is at the very heart of it.
The Kingdom has introduced various initiatives and incentives to promote fostering entrepreneurship and innovation; creating a favorable ecosystem for Saudi capital venture funds to thrive and invest in the most promising and disruptive innovations of tomorrow across the globe.
Among the players in the ecosystem, Prosperity7 Ventures stands out as an emerging leader. Prosperity7 Ventures is the diversified growth fund of Aramco Ventures, a subsidiary of Aramco, the world’s leading integrated energy and chemicals company. The fund’s name derives from “Prosperity Well,” the seventh oil well drilled in Saudi Arabia and the first to strike commercial oil, paving the way to prosperity. Bringing forward this pioneering history, Prosperity7 invests globally with a long-term view in breakthrough technologies and transformational business models that bring prosperity and positive impacts on a vast scale.
Prosperity7, the rising star of investment
Starting with an inaugural $1 Billion fund, Prosperity7 Ventures was successful in rapidly building a name for itself and rising to the ranks of global top-tier VC investors.
Prosperity7 has a unique advantage in that it is the only Saudi-based venture fund to have investment teams on the ground at the world’s biggest VC hubs in the United States and China. Prosperity7 is headquartered in Saudi Arabia, with offices spreading across the globe from Palo Alto and New York all the way to Beijing, and Shanghai, giving the fund access to the most disruptive and promising startups in the world.
The fund has been successful in attracting top talent in all its offices across different geographies. “Our unique team is our strongest asset,” said Aysar Tayeb, Executive Managing Director of Prosperity7 Ventures. “We have very smart, visionary, and capable people with diverse expertise. The rich track records of the team cut through some of the most reputable corporations and investment firms.”
The fund prides itself on its thesis-driven approach to investment selection, building a deep understanding of each sector and subsector, analyzing historic and future trends and their implications, and building convection on how and why disruption can transform that sector. This holistic approach helps direct the fund to where the most compelling investment opportunities are. Investments under consideration are screened against three fundamental parameters: disruption, scalability, and resilience. These important characteristics form the initial lenses to determine if a start-up is truly differentiated and can grow to deliver on the objectives of the fund.
Sparkling Success
Established in 2019 Prosperity7 Ventures has been building a diverse portfolio of cutting-edge tech companies and early-stage businesses worldwide, across sectors at the forefront of disruption. They range from DeepTech, Data & AI, Cloud Computing, Cybersecurity, Fintech, Medtech, Robotics, Blockchain, Mobility all the way to FoodTech.
The world continues to accelerate in “digital transformation” with VC investment remaining robust in startups addressing this. Prosperity7 has invested across key areas including companies aiming to dethrone the large incumbents in the networking space, the use of generative AI, and the growing importance of cybersecurity.
Deep Tech investments have been made in companies developing novel designs and use cases for semiconductors, an area with increasing demand due to the hypergrowth of IoT and AI. Brain-computer interfaces are no longer simply a dream of science fiction and are gaining investor attention including that of Prosperity7 who have made investments into this technology.
Investments in MedTech have included promising disrupters targeting cancer on a number of fronts including early detection, platforms that improves the speed and accuracy of administering treatments, and transformative surgical robotics offering non-invasive procedures to extract cancer from lungs.
In robotics, Prosperity7 has built a portfolio of innovative robotics companies disrupting different sectors including the services sector, warehouse, and logistics, manufacturing with smart “cobots”, and advanced rehabilitation, which is infusing robotics into healthcare to improve patient outcomes. P7 has also made investments in the nascent humanoid robotics sector.
Prosperity7 Ventures has earned a reputation for its thought leadership in the venture capital landscape. They built strong relationships with entrepreneurs, investors, and industry leaders, cementing their position as a trailblazer in the Saudi Arabian venture space. Their reputation continues to attract top talent and ensures a steady flow of high-quality investment opportunities. Trust is a critical factor in the venture capital industry, and Prosperity7 Ventures excels in this regard. Entrepreneurs seeking funding need reliable partners they can depend on to provide support and guidance throughout their journey. Prosperity7 Ventures has a proven track record of delivering on its promises, fostering long-term partnerships built on trust and mutual success.
Identifying all these efforts, International Business Magazine has awarded Prosperity7 the prestigious title of Best Venture Capital Firm in Saudi Arabia 2023.
Fuelling the Future
As we look towards the future, the role of venture capital firms in supporting innovation and economic growth will only become more crucial. Prosperity7’s leadership and team understand this well. Their forward-thinking approach positions them as an important contributor to the ambitious vision for Saudi Arabia.
The rise of venture capital in Saudi Arabia has brought about a transformation in the country’s entrepreneurial and investor landscape. With the government’s support, favorable regulatory reforms, and the active involvement of leading firms like Prosperity7 Ventures, entrepreneurs now have greater access to capital, expertise, and networks.
“Our journey is still at the beginning”, said Aysar. “Our team will continue to build and strengthen knowledge and experience, with the ongoing aim of becoming a better and invaluable partner for startups looking to make their mark”. With a focus on fostering innovation, Prosperity7 continues its journey and search for visionary entrepreneurs, to support their endeavours and help turn their dreams into reality and bring prosperity to the world.
Article Received On Mail From Prosperity7 Ventures
