Sabic plans to set up venture capital arm

3 November 2011: Saudi Basic Industries Corp (Sabic) is setting up a new venture capital arm to invest in innovative technology and companies, as it seeks to expand beyond petrochemicals. The new firm, Sabic Ventures, will be based in the Netherlands and will invest in technologies and new business. Sabic Ventures aims to build up a portfolio of technology options for the company's future businesses. It will do this by investing directly both in seed stage, early stage and late stage companies.

Source: Ameinfo