Red Sea Global & Bunat Ventures Launch AI-Focused Venture Fund

Saudi regenerative tourism developer Red Sea Global (RSG) has announced a strategic partnership with venture capital firm Bunat Ventures, regulated by the Abu Dhabi Global Market, to launch the Kingdom’s first AI-focused venture fund dedicated exclusively to supporting startups in artificial intelligence technologies.

The fund will focus on high-potential startups, from pre-seed to growth-stage companies, whose business models rely primarily on AI solutions.

Over a three-year investment horizon, the fund aims to support approximately 25 promising startups, offering them not only financial backing but also access to RSG’s operational infrastructure at The Red Sea and AMAALA destinations, providing a real-world testing environment to pilot and validate their technologies.

“Our goal is to empower Saudi entrepreneurs while attracting leading global startups to establish operations and expand from the Kingdom,” said fund representatives.

The initiative addresses a critical gap in sector-specific venture capital for AI startups in Saudi Arabia by combining funding with practical testing environments. The fund is expected to accelerate startup development into national and regional AI ecosystem leaders, foster collaboration between investors, academia, and technology partners, and attract global talent while promoting knowledge exchange and long-term value creation.

Red Sea Global, which welcomed its first guests to The Red Sea in 2023, currently operates 10 resorts and the Red Sea International Airport, with Shura Island opening its first resorts and an 18-hole championship golf course this year.

This partnership follows regional trends to create AI startup programs that connect ventures with real-world operations, such as G42 Group company Presight’s AI startup accelerator, which combines technological resources, networking, and operational testing to demonstrate commercial viability.