Saudi Aramco Energy Ventures is preparing a $500m second fund following on from a first fund of the same size, launched by the unit in 2012.

Saudi Aramco Energy Ventures (SAEV), the corporate venture capital arm of Saudi Arabia-based oil and gas producer Saudi Aramco, intends to establish a $400m to $500m fund this year, The National reported on Saturday. The unit will continue to invest in companies developing technology relevant to the core strategic areas for its parent company. It…

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