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HRH Prince Khaled bin Alwaleed bin Talal Al Saud, founder and CEO of Dubai-headquartered asset management firm KBW Ventures, explored his journey as an impact investor, particularly within climate financing, during a fireside chat at the recently concluded Abu Dhabi Finance Week (ADFW) 2023.
Held under the patronage of H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, and Chairman of the Executive Council, ADFW 2023 was held from November 27-30, 2023, and saw the attendance of more than 18,000 visitors from over 100 countries.
Prince Khaled’s session took place during ADFW 2023’s R.A.C.E Sustainability Summit, a segment that was organized in partnership with The Economist aimed at highlighting the work of financial institutions that are driving the net zero agenda. During his fireside chat with Vijay V. Vaitheeswaran, Global Energy and Climate Innovation Editor of The Economist, Prince Khaled spoke at length about how his journey in impact investing began. “I began investing in companies I believe are making a real impact on the world 7-8 years ago, alongside investments in companies that I’m generally passionate about in technology outside of sustainability,” he recalled.
Prince Khaled also shared his insights on food technology’s important role in the climate crisis, as well as the wider investment landscape of climate financing. While citing the work done in cellular agriculture and other alternative proteins by many of KBW Ventures’ portfolio companies, Prince Khaled also noted that his enterprise has been a “first mover in food technology.”
Another key aspect of the chat revolved around the Prince’s role as a member of Board of Directors at Alwaleed Philanthropies, a Saudi Arabian non governmental organization (NGO) that is committed to projects that help tackle poverty, empower women and youth, and support cultural education. Founded by philanthropist and business magnate HRH Prince Alwaleed bin Talal, the NGO has been an early participant in the climate financing movement, noted Prince Khaled.
“HRH Alwaleed is a passionate changemaker, and through Alwaleed Philanthropies, and in partnership with many of the world’s strongest philanthropic entities, he’s done reams of good with measurable generational impact,” he noted. “The entity also has an impact investment aspect, having invested in Breakthrough Energy, a [US-headquartered] fund that invests in companies helping the world achieve Net Zero across five ‘grand challenges’: agriculture, buildings, electricity, manufacturing, and transportation.”
The conversation also saw Prince Khaled delve into the role of governments and the private sector, touching on the capabilities and limits of sovereign wealth funds in reaching microenterprises, startups, as well as small and medium enterprises.
The R.A.C.E Sustainability Summit was held on November 30, 2023 in tandem with the 28th edition of the Conference of the Parties (COP28) hosted by the UAE. The Summit was dedicated towards understanding how climate finance can be a tool for financial stability, the role of multilateral development banks in financing the net-zero transition, and the role of impact investors, among other topics.
Related: Khaled Bin Alwaleed’s KBW Ventures Invests In Seattle-Based Rebellyous Foods’ Equity Round
