Red Sea Global (RSG), developer of the Red Sea and AMAALA tourism destinations, has partnered with Bunat Ventures Limited (Bunat VC) to launch a venture fund focused on AI startups in Saudi Arabia.
The AI Venture Fund will invest in early- and growth-stage companies that are AI-native or integrate AI as a core part of their business.
Over three years, it aims to support around 25 startups through pre-seed and growth-stage investments.
In addition to funding, the programme will provide companies with access to infrastructure and an environment to pilot and test technologies within RSG’s operations.
The initiative seeks to develop these startups into national and regional players in the AI sector.
“This partnership with Bunat VC reflects our belief that technology is fundamental to sustainability, enabling us to invest in bold ideas that will accelerate the Kingdom’s digital transformation and inspire global progress,”
said Sultan Moraished, Group Head of Technology and Corporate Excellence at RSG.
The Fund will focus on Saudi-based entrepreneurs and Saudi-founded ventures expanding into the Kingdom.
It aims to foster innovation, job creation, and digital development, while encouraging collaboration between investors, academia, and technology partners.
It is also expected to attract international talent and support knowledge exchange to ensure sustainable growth.
Khaled Zainalabedin, CEO and Managing Partner at Bunat VC, said,
“ 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’s leadership in the global innovation arena.”
Featured image credit: RSG
