NEW VENTURE FUND ACCELERATES AI INNOVATION AND STARTUP GROWTH ACROSS SAUDI ARABIA.
Red Sea Global (RSG), the developer behind the regenerative tourism destinations The Red Sea and AMAALA, has announced a strategic partnership with Bunat Ventures Limited (Bunat VC) to launch a first-of-its-kind artificial intelligence (AI) venture fund in the Kingdom of Saudi Arabia.
AI fund targets 25 startups in three years
Designed to strengthen Saudi Arabia’s innovation ecosystem, the AI Venture Fund will invest in early- and growth-stage startups that are either AI-native or leverage AI as a core enabler of their business models. Over the next three years, the fund aims to support around 25 startups through a combination of pre-seed and growth-stage investments, positioning emerging companies to scale both locally and regionally.
Real-world testing within RSG destinations
Beyond financial backing, the partnership offers a distinctive value proposition. Portfolio companies particularly those based in the Kingdom, will gain access to world-class infrastructure and a state-of-the-art operational environment within RSG’s destinations. This will enable startups to pilot, test, and validate AI-driven solutions in real-world settings, accelerating commercialization while addressing complex challenges across tourism, sustainability, mobility, and smart infrastructure.
“At Red Sea Global, we view innovation as a catalyst for a regenerative future,” said Sultan Moraished, Group Head of Technology and Corporate Excellence at Red Sea Global. “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.”
Focus on Saudi founders and global expansion
With a strong focus on Saudi-based entrepreneurs, as well as Saudi-founded global ventures expanding into the Kingdom, the fund is expected to unlock new pathways for innovation, job creation, and digital excellence. It is also positioned to act as a catalyst for collaboration across the wider ecosystem, connecting investors, academia, and technology partners while attracting global talent and encouraging knowledge exchange.
Khaled Zainalabedin, CEO and Managing Partner at Bunat VC, highlighted the strategic alignment between the two organizations. “Our collaboration with Red Sea Global brings together visionary development and agile venture capital,” he 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.”
Red Sea Global continues to expand its footprint as a living testbed for innovation. Having welcomed its first guests to The Red Sea in 2023, RSG now operates 10 resorts alongside Red Sea International Airport (RSI), which offers regular flights from Riyadh, Jeddah, Dubai, and Doha. This year will see the opening of Shura Island’s first resorts, as well as Shura Links, an 18-hole championship golf course.
Driving sustainable, AI-led economic growth
By combining capital, cutting-edge infrastructure, and a commitment to sustainability-led development, the AI Venture Fund represents a significant step toward positioning Saudi Arabia at the forefront of AI-driven innovation and long-term economic growth.
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