Saudi Aramco Boosts Venture Capital Arm with $4 Billion New Funds

Saudi Aramco is more than doubling funding to its venture capital arm by injecting an additional $4 billion funding, the Saudi state oil giant said on Wednesday. The fresh funding will raise Aramco’s total investment allocation to its unit Aramco Ventures from $3 billion to $7 billion.    The decision to more than double funds allocation to the venture capital arm reflects “the growing significance of Aramco’s venture capital program in enabling the development of disruptive new technologies, creating diversification…