Red Sea Global and Bunat VC launch Saudi Arabia-focused AI venture fund
News • January 7, 2026
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Red Sea Global, in partnership with Bunat Ventures Limited (Bunat VC), has launched a Saudi Arabia-focused AI venture fund targeting early and growth stage startups that are AI-native or use AI as a core business enabler. The fund will support approximately 25 startups over the next three years, from pre-seed to growth stages, with a focus on Saudi-based founders and Saudi-founded global companies expanding into the Kingdom. Beyond capital, portfolio companies will have access to RSG’s real-world infrastructure and operational environment, allowing startups to pilot, test and validate their AI solutions within destinations such as the Red Sea and AMAALA. The initiative aims to strengthen Saudi Arabia’s AI ecosystem, support innovation, job creation, and knowledge transfer, and position the Kingdom as a hub for AI-driven national and regional champions.
press release:
Red Sea Global (RSG), developer of regenerative tourism destinations The Red Sea and AMAALA, has announced a strategic partnership with Bunat Ventures Limited (Bunat VC) to launch a first-of-its-kind venture fund focused on artificial intelligence (AI)-driven startups in the Kingdom of Saudi Arabia.
The AI Venture Fund invests in early and growth-stage startups that are AI native or leverage AI as a core enabler of their business model. Over the next three years, the fund aims to back around 25 startups through both pre-seed and growth-stage investments. Beyond capital, the fund will provide portfolio companies, particularly those based in Saudi Arabia, with access to world-class infrastructure and a state-of-the-art environment to pilot and validate technology within RSG’s actual business operations. This partnership aims to accelerate the growth of these startups into national and regional champions in the AI ecosystem.
“At Red Sea Global, we believe that innovation is the catalyst for a renewable future. This partnership with Bunat VC reflects our belief that technology is the foundation of sustainability and will enable us to invest in bold ideas that will accelerate Saudi digital transformation and drive global progress,” said Sultan Molaished, Group Head of Technology and Corporate Excellence at Red Sea Global.
The fund aims to create new avenues for innovation, job creation and digital excellence, with a focus on Saudi-based entrepreneurs and Saudi-founded global ventures with a presence in the Kingdom. It is expected to foster collaboration between investors, academia and technology partners and act as a catalyst for the local innovation ecosystem. It also attracts global talent and fosters knowledge exchange to ensure long-term value creation and sustainable growth.
Khaled Zainalabedin, CEO and Managing Partner of Bunat VC, added, “Our collaboration with Red Sea Global brings together visionary development and agile venture capital. Together, we are building a platform that will empower the next generation of Saudi AI pioneers that will redefine industries, build communities, and strengthen Saudi Arabia’s leadership in the global innovation space.”
RSG welcomed its first guests to the Red Sea in 2023 and currently operates 10 resorts as well as Red Sea International Airport (RSI) with scheduled flights from Riyadh, Jeddah, Dubai and Doha. This year, the first resort will open on Shura Island, in the heart of the Red Sea, as well as Shura Links, an 18-hole championship golf course.
