Backed by Saudi Aramco, Wa'ed Ventures provides financial support, coaching, and investment to small- and medium-sized enterprises (SMEs) in various sectors including technology, energy, manufacturing, healthcare, and services. With a $500 million fund, the firm aims to accelerate the growth of local tech-based startups and attract global entrepreneurs to bring their innovations to Saudi Arabia. Their goal is to promote economic development, job creation, knowledge transfer, and diversification of the Kingdom's economy.