The Saudi Basic Industries Corporation (SABIC) has launched a global corporate venture capital arm, SABIC Ventures, in the Netherlands.
The new firm aims to build up a portfolio of innovative technologies and businesses consistent with SABIC’s global strategy.
It will focus on seed stage, early stage and late stage companies based in the USA, Europe and Asia, either leading/co-leading rounds or participating in transactions along with other venture capitalists.
SABIC Ventures will be funded by an Innovation Fund, which will be managed by the organization and will cover investments in start-up companies.
Sector areas of interest include:
– advanced materials and composites;
– alternative feedstocks for chemicals and materials; and
– alternative energy and cleantech.