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SABIC Creates New Venture Capital Arm

Source: www.gulfoilandgas.com 11/2/2011, Location: Middle East

The Saudi Basic Industries Corporation (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 both in seed stage, early stage and late stage companies. The new organization will both lead investment, co-lead and invest alongside venture capitalists.

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 businesses.”

SABIC Ventures will be funded by an Innovation Fund, which will be managed by the organization. The Fund will cover investments in start-up companies. Amongst the areas which have been designated for investments are advanced materials and composites; alternative feedstocks for chemicals and materials; and alternative energy and cleantech. At the same time, the organization will be constantly exploring new areas of interest.

The targeted countries for sourcing venturing investments are the USA, 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.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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