Key Takeaways
- • Aruna Subramanian, managing director of Sabic Ventures (the corporate venture capital arm of Saudi Arabia's largest chemical producer), has departed from her leadership position at the venture unit as of April 2026.
- • Subramanian led Sabic Ventures' investment strategy focused on circular economy and decarbonization technologies, including energy storage, carbon capture, advanced plastics recycling, and battery technologies, with the unit making approximately eight new investments annually.
- • Her departure coincides with significant leadership restructuring at Sabic, including the appointment of Faisal Al-Faqeer as CEO (effective April 1, 2026), replacing Abdulrahman Al-Fageeh after a four-year tenure.
- • Sabic closed fiscal year 2025 with revenues of 116.5 billion riyals (approximately €26.69 billion) but reported a net loss of 25.78 billion riyals, creating potential implications for venture capital deployment and investment priorities under new leadership.
- • Subramanian brought over two decades of experience across oil and gas, petrochemical, and venture capital sectors, including prior roles at Shell Technology Ventures and Brightlands Venture Partners, and held board positions on Dutch government investment funds.
Summary
Aruna Subramanian, who has led Sabic Ventures as managing director, has exited her position overseeing the corporate venture capital unit of Saudi Basic Industries Corporation (Sabic), the Middle East's largest petrochemical manufacturer. Subramanian's departure follows broader leadership changes at Sabic announced in March 2026, including the appointment of new CEO Faisal Al-Faqeer, who assumes the role on April 1, 2026, replacing Abdulrahman Al-Fageeh.
Subramanian's tenure at Sabic Ventures, which she joined in 2015 as senior portfolio manager before advancing to managing director, was characterized by a strategic focus on technologies aligned with global decarbonization and circular economy priorities. Under her leadership, Sabic Ventures deployed capital into companies developing low-cost battery technology (Rondo), battery recycling processes (Novocycle), advanced plastics recycling (Synova), and digital circular economy solutions (iNex Circular). The unit made approximately eight new investments annually and in December 2023 co-launched the Mega Green Accelerator program alongside PepsiCo and AstroLabs to incubate businesses in clean energy, circular economy, water technology, and agtech sectors.
Subramanian's investment philosophy emphasized active collaboration with portfolio companies rather than passive capital deployment. She stated that corporate venture investors must "actively collaborate with startups to develop or derisk their technologies," with formal collaboration agreements established at investment closing. Her approach included pilot partnerships with technology providers—notably blockchain software firm Finboot to track circular products across Sabic's value chain.
The leadership transition occurs as Sabic faces financial headwinds. The company reported fiscal 2025 revenues of 116.5 billion riyals (€26.69 billion, down 1% year-over-year) and a net loss of 25.78 billion riyals, compared to a 1.54 billion riyal profit in 2024, though adjusted net income recovered to 2.1 billion riyals. These results may influence the new CEO's strategic priorities and venture capital allocation under incoming leadership.
Subramanian's tenure at Sabic Ventures, which she joined in 2015 as senior portfolio manager before advancing to managing director, was characterized by a strategic focus on technologies aligned with global decarbonization and circular economy priorities. Under her leadership, Sabic Ventures deployed capital into companies developing low-cost battery technology (Rondo), battery recycling processes (Novocycle), advanced plastics recycling (Synova), and digital circular economy solutions (iNex Circular). The unit made approximately eight new investments annually and in December 2023 co-launched the Mega Green Accelerator program alongside PepsiCo and AstroLabs to incubate businesses in clean energy, circular economy, water technology, and agtech sectors.
Subramanian's investment philosophy emphasized active collaboration with portfolio companies rather than passive capital deployment. She stated that corporate venture investors must "actively collaborate with startups to develop or derisk their technologies," with formal collaboration agreements established at investment closing. Her approach included pilot partnerships with technology providers—notably blockchain software firm Finboot to track circular products across Sabic's value chain.
The leadership transition occurs as Sabic faces financial headwinds. The company reported fiscal 2025 revenues of 116.5 billion riyals (€26.69 billion, down 1% year-over-year) and a net loss of 25.78 billion riyals, compared to a 1.54 billion riyal profit in 2024, though adjusted net income recovered to 2.1 billion riyals. These results may influence the new CEO's strategic priorities and venture capital allocation under incoming leadership.
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