Richard Riggs has moved from BASF Venture Capital to take up a position at Saudi Aramco Energy Ventures, the corporate venturing arm of Saudi Arabian national oil company Aramco.
Although neither Riggs nor Aramco have announced his official position in the unit, it will be concerned with corporate venture capital investment.
Riggs became an investment manager at BASF Venture Capital, the corporate venturing subsidiary of materials producer BASF, in March 2012 after working as a research scientist in the company for five years.
Saudi Aramco Energy Ventures, which launched in 2012, has nine companies in its portfolio, including gas-to-fuel company Siluria Technologies, power automation technology developer Utilidata and oil reservoir efficiency company InflowControl.
– Photo of Richard Riggs courtesy of BASF Venture Capital GmbH