Red Sea Global and Bunat VC Launch AI Venture Fund for Saudi Startups

Red Sea Global (RSG), the visionary developer behind The Red Sea and AMAALA, has announced a strategic partnership with Bunat Ventures Limited (Bunat VC) to launch a specialized AI venture fund. This first of its kind initiative targets early and growth stage startups that are either AI native or utilize artificial intelligence as a core business enabler. The announcement was made in Riyadh on January 5, 2026, marking a significant step in the Kingdom’s digital transformation and innovation ecosystem.

The newly established fund aims to invest in approximately 25 startups over the next three years. Beyond providing financial capital, the partnership offers a unique advantage by granting companies access to RSG’s world class infrastructure. This living lab approach allows entrepreneurs to pilot and validate their technologies within active resorts and airport operations, accelerating their path to becoming national and regional champions.

"At Red Sea Global, we view innovation as a catalyst for a regenerative future," said Sultan Moraished, Group Head of Technology and Corporate Excellence at Red Sea Global. He emphasized that technology is fundamental to sustainability, allowing the group to invest in bold ideas that inspire global progress. The fund specifically focuses on Saudi based entrepreneurs and global ventures expanding into the Kingdom.

Khaled Zainalabedin, CEO and Managing Partner at Bunat VC, added that the collaboration brings together visionary development and agile venture capital. He believes this platform will empower the next generation of Saudi AI pioneers who will redefine industries and strengthen the nation's leadership in global innovation. The initiative is expected to attract global talent and promote knowledge exchange between academia and the private sector.

This strategic move follows the successful opening of 10 resorts at The Red Sea and the continued operation of the Red Sea International Airport. As Shura Island begins opening its first resorts and golf courses, the demand for smart, AI driven solutions in hospitality and environmental management continues to grow. These real world environments provide an ideal stage for testing advanced software and hardware solutions.

As a PIF company, RSG remains a cornerstone of Saudi Arabia’s ambition to diversify its economy and lead the world toward a more sustainable future. This venture fund aligns with those goals by fostering a local innovation ecosystem and creating new pathways for job creation. By bridging the gap between developers and tech founders, the partnership ensures long term value and sustainable growth for the entire Kingdom.