Red Sea Global (RSG), the company behind tourism projects like The Red Sea and AMAALA, has partnered with Bunat Ventures (Bunat VC) to launch a new AI-focused venture fund in Saudi Arabia.
This new fund will invest in early-stage and growing startups that either build AI-based products or use AI as a key part of their business.
Over the next three years, the fund plans to support around 25 startups through pre-seed and growth-stage investments.
In addition to funding, startups—especially those in Saudi Arabia—will get access to advanced infrastructure and real-world testing environments within RSG’s operations. This will help them test, improve, and grow their technologies, with the goal of turning them into strong regional and national AI companies.
“At Red Sea Global, 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,” said Sultan Moraished, Group Head of Technology and Corporate Excellence at Red Sea Global
The fund will mainly support Saudi entrepreneurs and Saudi-founded global startups expanding into Saudi Arabia. Its goal is to encourage innovation, create jobs, and support digital growth in the country.
It will help strengthen the local startup ecosystem by bringing together investors, universities, and technology partners. The fund also plans to attract global talent, encourage knowledge sharing, and support long-term and sustainable growth.
Khaled Zainalabedin, CEO and Managing Partner at Bunat VC, added, “Our collaboration with Red Sea Global 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.”
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