Aramco Ventures, the corporate venture capital arm of Saudi Arabian energy giant Aramco, has announced the opening of a new office in Paris. This strategic expansion is designed to spearhead the firm’s investment activities across Europe, with a specific focus on artificial intelligence, cybersecurity, and quantum computing.
The new Paris hub is expected to deploy hundreds of millions of euros into promising European startups and funds, significantly bolstering Saudi Arabia’s presence in the global deep tech landscape.
A Strategic European Push
The move into Europe signals Aramco Ventures’ commitment to tapping into high-growth technology sectors beyond its traditional energy focus. CEO Mahdi Aladel confirmed that the firm’s mandate is to cover the entire European continent, starting with initial investments in French startups or venture funds.
The establishment of a European base comes as the continent’s AI ecosystem gains momentum, despite historically lagging behind the US and China in terms of data centre infrastructure and regulatory agility. Aladel highlighted Europe’s burgeoning tech scene as a key motivator for the expansion.
France As A Gateway
The selection of Paris as the European headquarters was a deliberate choice, influenced by several key factors. Aladel noted the success of local AI powerhouses like Mistral, the depth of the regional talent pool, and strong government pledges to invest in and support the AI ecosystem.
By positioning itself in the French capital, Aramco Ventures aims to gain a strategic foothold to identify and back the next wave of innovators who are poised to compete on the global stage.
About Aramco Ventures
Aramco Ventures is the corporate venturing subsidiary of Aramco, the world’s leading fully integrated energy and chemicals enterprise. Its mission is to invest globally into startup and high growth companies with technologies of strategic importance to Aramco, to accelerate their development and their deployment in the Kingdom of Saudi Arabia.
Source: Zawya
