Saudi Venture Capital (SVC) has committed over SR1.5bn ($400m) to the Jadwa GCC Private Equity Fund 1, which will invest in a diversified, cross-sectorial set of high-potential private equity opportunities across Saudi Arabia and the GCC.
According to a recent press release, the fund, Jadwa Investment’s first regional blind-pool private equity fund, is targeting a capital raise of SR1.5bn ($400m), with an upper limit of SR2bn ($532.8m).
Nabeel Koshak, CEO and board member of SVC, said: “Our investment in the private equity fund by Jadwa is aligned with SVC’s strategy of supporting the evolving private equity ecosystem in Saudi Arabia. This investment will stimulate and sustain funding for high-potential companies in Saudi Arabia, contributing to the economic diversification objectives of Saudi Vision 2030.”
Established in 2018, SVC operates as a subsidiary of the SME Bank under the National Development Fund. Its mission is to bolster financing for startups and small-to-medium enterprises (SMEs) across various growth stages, from pre-seed to pre-IPO, through investments in funds and direct support to emerging businesses.
Tariq Al-Sudairy, managing director and CEO of Jadwa Investment, expressed enthusiasm for the partnership: “We are excited to have SVC on board as an investor in Jadwa GCC Private Equity Fund 1. This partnership reflects our shared commitment to identifying and nurturing high-potential companies across the GCC, with the goal of creating long-term value for our clients.”
Jadwa Investment is a prominent investment management and advisory firm in the Middle East and North Africa (MENA) region.
