Key Points:
- Saudi Aramco’s venture capital arm, Prosperity7 Ventures, is set to invest between USD 200 million and USD 350 million in Indian start-ups.
- The move signifies Aramco’s recognition of India’s thriving start-up ecosystem and its intention to expand its global presence.
- Prosperity7 Ventures aims to establish a portfolio of 15 to 20 early-stage companies in India, covering seed stage to Series A and Series B rounds.
- India’s start-up ecosystem attracted a massive USD 7.2 billion in investments in 2023, highlighting the country’s growing appeal to global investors.
Saudi Aramco, the giant conglomerate from Saudi Arabia, is eyeing India’s dynamic start-up landscape as it prepares to invest a substantial amount in the country’s burgeoning start-up ecosystem. The company’s venture capital arm, Prosperity7 Ventures, is actively laying the groundwork to enter India and is on the lookout for promising early-stage deals.
This strategic move underscores Aramco’s recognition of India’s vibrant start-up ecosystem and its desire to expand its global footprint. Prosperity7 Ventures is in the process of setting up a dedicated team for its India operations and is actively seeking to recruit a leader for the venture.
Sources familiar with the matter indicate that Prosperity7 Ventures plans to allocate a substantial sum ranging between USD 200 million and USD 350 million for investments in the Indian market. The fund aims to build a diverse portfolio comprising 15 to 20 early-stage companies, spanning across seed stage to Series A and Series B rounds.
While Prosperity7 Ventures already has investments in the United States, Middle East, and China, it recognizes India as a crucial market due to the significant deal flow and emerging opportunities. The country’s start-up ecosystem has seen a remarkable inflow of investments, with a staggering USD 7.2 billion poured into early-stage firms in 2023 alone, according to data from Tracxn.
Prosperity7 Ventures has a track record of investing over USD 1 billion globally in start-ups focused on scalable technologies and disruptive business models across various sectors. Their investment interests encompass enterprise tech, fintech, deep tech, artificial intelligence, business-to-business, business-to-consumer, and medtech sectors.
As Aramco’s VC arm gears up to make its mark in India, its entry into the country’s start-up ecosystem is expected to provide a significant boost to the burgeoning entrepreneurial landscape, fostering innovation and driving economic growth.
