Saudi Basic Industries Corp. (SABIC) has announced the launch
of a new global corporate venture capital arm, SABIC Ventures,
in the Netherlands, with the primary goal of seeking out
innovative technologies and businesses consistent with the
company's global strategy.
SABIC Ventures aims to build up a portfolio of technology options for the company's
future businesses. It will do this by investing directly in
seed-stage, early-stage and late-stage companies. The new
organization will lead investment, co-lead and invest alongside
Commenting on the launch of the organization, Mohamed Al-Mady,
SABIC Vice Chairman and CEO, said that SABIC Ventures has been
developed as an investment vehicle to accomplish profitable
growth. "SABIC aspires to be the preferred leader in chemicals.
We will accomplish this through organic growth by investing in
new assets and expanding current assets, mergers and
acquisitions in targeted areas, and new business creation.
Venturing provides growth opportunities for new
Among the areas designated for investments are advanced
materials and composites, alternative feedstocks for chemicals and
materials, and alternative energy and clean technology. At the same time, the
organization will be constantly exploring new areas of
The targeted regions for sourcing venturing investments are the
US, Europe and Asia. "The organization
will have a global reach. We are building a global organization
with deal flow and investment management support from all over
the world," Al-Mady said.