# Saudi Aramco Entrepreneurship Ventures

> Saudi Aramco Entrepreneurship Ventures is a VC fund backing Information Technology. See 46 investments, check sizes, portfolio and contact details. Updated…

- Type: VC Fund
- Location: Dhahran, Saudi Arabia
- Total investments: 46
- Last investment: Feb 2024
- Lead investor: 83%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/saudi-aramco-entrepreneurship-center-wa'ed-
- Website: https://waed.net/en/home.html

Saudi Aramco Entrepreneurship Ventures is a VC fund in Dhahran focused on Information Technology and Software. Wa’ed Ventures is the venture capital arm of Saudi Aramco Entrepreneurship Center (Wa’ed), established by Saudi Aramco with the vision of igniting the spirit of entrepreneurship in the Kingdom of Saudi Arabia. Wa’ed has deployed a suite of programs over the years to assist entrepreneurs in establishing, enhancing, or expanding their ventures. Theseprograms comprise development and financial support including business incubation, coaching and training to guide and nurture entrepreneurs along different business stages, seed funding, non-collateral loans, venture capital (equity/debt) investment, and business development. These programs support the development of small- and medium-sized enterprises (SMEs) capable of localizing industries and diversifying the Kingdom’s economy. Wa’ed also collaborates and engages with key players in order to create an effective entrepreneurship ecosystem.Wa’ed aspires to provide leadership in promoting entrepreneurship to support economic growth, diversification, and social development in Saudi Arabia, in alignment with the Kingdom’s strategic thrust into moving towards a knowledge-based economy. The organization aims to turn innovative ideas into successful projects, create and support sustainable SMEs, and develop entrepreneurs into successful business owners.Wa’ed Ventures aims to fuel the growth of high potential companies, thereby promoting economic development in Saudi Arabia with job creation for Saudi nationals, technological improvement, knowledge transfer, economic diversification, and economic growth within the Kingdom. The firm focuses on seed, early, and growth-stage businesses across a diverse range of sectors including information and communication technology (ICT), energy, manufacturing, healthcare, and services – from mobile application platforms and technologies to industrial equipment manufacturing to advanced software solutions.

## Contacts

5 contacts available for Saudi Aramco Entrepreneurship Ventures. Shizune tracks 5 team members at Saudi Aramco Entrepreneurship Ventures. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/wa-ed-ventures?utm_source=investor_profile

## Round sizes

| Stage | Round size |
| --- | --- |
| Seed | $506k–$3.5M |
| Series A | $900k–$25M |
| Convertible Note | $480k–$33M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Information Technology | 8 | 17% |
| Software | 6 | 13% |
| Intelligent Systems | 5 | 11% |
| Predictive Analytics | 5 | 11% |
| Apps | 4 | 9% |

99 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Series A | 18 | 39% |
| Seed | 16 | 35% |
| Convertible Note | 3 | 7% |
| Funding Round | 2 | 4% |
| Venture - Series Unknown | 2 | 4% |

8 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Saudi Arabia | 31 | 67% |
| India | 1 | 2% |
| Luxembourg | 1 | 2% |
| United States | 1 | 2% |
| United Kingdom | 1 | 2% |

6 countries tracked in total.

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Khalil A. Al-Shafei | CEO and Managing Director | 1 | https://shizune.co/investors/profile/khalil-a-al-shafei |
| Muhammad Zeeshan Hassan | Investment Director | 2 | https://shizune.co/investors/profile/muhammad-zeeshan-hassan |
| Trey Goede | Investment Manager | 1 | https://shizune.co/investors/profile/trey-goede |
| Wassim Basrawi | Managing Director | 20 | https://shizune.co/investors/profile/wassim-basrawi |
| Ziad Abdulaal | Investment Manager | 0 | https://shizune.co/investors/profile/ziad-abdulaal |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Ori Industries | Ori is building the AI backbone for the future, enabling teams to advance groundbreaking technology. We believe the true potential of AI will be unlocked by how seamlessly teams can access and deploy the infrastructure they need to train, serve, and scale models. As a trusted partner, Ori provides end-to-end AI infrastructure—combining powerfulGPU compute with a flexible software layer that optimizes resources. With Ori, teams can explore, build, and scale AI innovations effortlessly, transforming how software and hardware work together to drive the next wave of AI breakthroughs. | $33M | Convertible Note | Feb 04, 2024 |  |
| MANAFA Capital | MANAFA is an online marketplace for investing equity into innovative, early-stage companies. It provides sophisticated investors free access to direct investment opportunities, diligence tools and industry data insights for an asset class that was previously very difficult to access. For entrepreneurs, MANAFA offers an efficient way to access anetwork of sophisticated investors as well as leading partners. | $28M | Series A | Dec 28, 2022 |  |
| ELEVATUS | Hire at enterprise scale without enterprise complexity.Since 2019, Elevatus has been rigorously implementing the latest in AI technology and modern science to design award-winning recruiting solutions that are revolutionizing the future of HR. Through these solutions, hundreds of companies from all over the world have been able to hire and assessover 1 million candidates to date. Elevatus helps enterprises, industry giants, startups, and brands from all around the globe centralize their core HR processes under one unified umbrella – to create a faster and more cost-efficient hiring experience. Today, Elevatus is a multi-award-winning software company headquartered in Saudi Arabia; with a growing client base, first-class awards, and legions of talented people in our team. | $10.5M | Series A | Sep 21, 2022 |  |
| ELEVATUS | Hire at enterprise scale without enterprise complexity.Since 2019, Elevatus has been rigorously implementing the latest in AI technology and modern science to design award-winning recruiting solutions that are revolutionizing the future of HR. Through these solutions, hundreds of companies from all over the world have been able to hire and assessover 1 million candidates to date. Elevatus helps enterprises, industry giants, startups, and brands from all around the globe centralize their core HR processes under one unified umbrella – to create a faster and more cost-efficient hiring experience. Today, Elevatus is a multi-award-winning software company headquartered in Saudi Arabia; with a growing client base, first-class awards, and legions of talented people in our team. |  | Private Equity | Sep 01, 2022 |  |
| OQ TECHNOLOGY | OQ TECHNOLOGY aims to disrupt the satellite telecommunication industry and provides the world’s first universal plug & play "Internet-of-Things" solution that can provide connectivity anywhere. We are building a global satellite constellation dedicated for "Internet-of-Things" and "machine-to-machine"communication. We serve the Oil & Gas, Maritime, Industry 4.0, consumer IoT, and Transport segments particularly for the management and tracking of assets in remote areas. Whether this is digital oilfield applications, offshore monitoring, SCADA applications, asset tracking, fleet management, smart metering or predictive maintenance: We provide you innovative low cost connectivity solution and high value data analytics. Our wireless technology (developed in collaboration with Luxembourg government and the European Space Agency) is compatible with existing wireless technologies. The modules are plug & play, easy to install, have long battery life, and connect you directly to our or your data cloud. | $13M | Series A | Sep 01, 2022 |  |
| Red Sea Farms | Red Sea Farms offers diverse products and services including produce technology and consultancy. Their patent-pending technology enables greenhouse and hydroponic farms to grow more and better food with less water and energy - saving money and sustainably increasing profits. The company's team of experts provides technical advice on design andproject management for saltwater and desert agriculture. | $18.5M | Venture - Series Unknown | Apr 25, 2022 |  |
| Red Sea Farms | Red Sea Farms offers diverse products and services including produce technology and consultancy. Their patent-pending technology enables greenhouse and hydroponic farms to grow more and better food with less water and energy - saving money and sustainably increasing profits. The company's team of experts provides technical advice on design andproject management for saltwater and desert agriculture. | $18.5M | Venture - Series Unknown | Apr 25, 2022 |  |
| Lamaa | Lamaa develops financial technology solutions to small and medium enterprises. It provides software and online tools that manages banks and tax processes. Lamaa is headquartered in Riyadh, Kingdom of Saudi Arabia. | $5.5M | Seed | Dec 01, 2021 |  |
| Qreeb | Qreeb is a Procurement and Facility Management platform for enterprise professionals built by procurement and facility management professionals. The Qreeb platform is a proprietary SaaS (Software as a Service). It is digitized automation that modernizes antiquated procedures. | $506.6K | Seed | Nov 11, 2021 |  |
| Cura | Cura Healthcare is a Saudi leading telehealth provider that provides digital health and telemedicine software and services. The company has developed state-of-the-art technologies to empower health communications, changing the way patients and doctors interact, diagnose, prescribe, give second opinions, manage chronic diseases, and provide primaryhealth care and well-being therapy sessions. For more information: https://cura.healthcare/en/ | $4M | Series A | Oct 17, 2021 |  |

10 of 46 investments shown.

## Co-investors
- [Wa’ed Ventures](https://shizune.co/investors/profile/waed-ventures) — VC Fund, 34 deals together
- [KAUST Innovation Fund](https://shizune.co/investors/profile/kaust-innovation-fund) — VC Fund, 7 deals together
- [Saudi Aramco](https://shizune.co/investors/profile/saudi-aramco) — VC Fund, 7 deals together
- [Global Ventures](https://shizune.co/investors/profile/global-ventures) — VC Fund, 3 deals together
- [BECO Capital](https://shizune.co/investors/profile/beco-capital) — VC Fund, 2 deals together
- [Cue Ball](https://shizune.co/investors/profile/cue-ball) — VC Fund, 2 deals together

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## FAQ

### What does Saudi Aramco Entrepreneurship Ventures invest in?

Saudi Aramco Entrepreneurship Ventures invests primarily in Information Technology, Software and Intelligent Systems startups, most often at Series A and Seed stage. Most of the 46 investments tracked by Shizune back companies in Saudi Arabia. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Saudi Aramco Entrepreneurship Ventures's check size?

Saudi Aramco Entrepreneurship Ventures typically joins rounds of $506k–$3.5M at Seed, $900k–$25M at Series A and $480k–$33M at Convertible Note. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Saudi Aramco Entrepreneurship Ventures participates in.

### How do I contact Saudi Aramco Entrepreneurship Ventures?

Public channels for Saudi Aramco Entrepreneurship Ventures include LinkedIn and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at Saudi Aramco Entrepreneurship Ventures?

The team at Saudi Aramco Entrepreneurship Ventures includes Khalil A. Al-Shafei (CEO and Managing Director), Muhammad Zeeshan Hassan (Investment Director) and Trey Goede (Investment Manager). The Team section lists each member with their title, investment count and links.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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