Red Sea Global (RSG) has entered into a strategic partnership with Bunat Ventures Limited (Bunat VC) to launch a first-of-its-kind venture fund focused on artificial intelligence (AI)-driven startups in the Kingdom of Saudi Arabia.
The AI Venture Fund will focus on investing in early- and growth-stage startups that are either AI-native or use AI as a central driver of their business models.
Over the next three years, the Fund aims to support approximately 25 startups through both pre-seed and growth-stage investments.
RSG-Bunat VC Venture Fund – Supporting Innovation and Sustainability
In addition to funding, the Fund will provide investee companies, particularly those based in Saudi Arabia, with access to world-class infrastructure and a cutting-edge environment to test and refine their technologies within RSG’s operational framework. This partnership is designed to accelerate the development of these startups into national and regional champions in the AI ecosystem.
Sultan Moraished Group Head of Technology and Corporate Excellence Red Sea Global
“At RSG, we view innovation as a catalyst for a regenerative future. 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.”
With a focus on Saudi-based entrepreneurs and Saudi-founded global ventures expanding into the Kingdom, the Fund aims to unlock new pathways for innovation, job creation, and digital excellence.
According to the statement, it is expected to act as a catalyst for the local innovation ecosystem, fostering collaboration between investors, academia, and technology partners. It will also attract global talent and promote knowledge exchange, ensuring long-term value creation and sustainable growth.
Khaled Zainalabedin, CEO and Managing Partner at Bunat VC, said that, “Our collaboration with RSG brings together visionary development and agile venture capital. 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.”
