Saudi fund of funds to invest in Investcorp’s $500m growth fund

Saudi-based Jada Fund of Funds has committed capital to a US$500 million growth fund managed by Bahrain-based alternative asset manager Investcorp.

The fund, which was launched last year, is focused on pre-IPO stage companies in Saudi Arabia.

Two of the fund’s investments so far include a $100 million pre-IPO funding round in Mena-based digital freight company TruKKER and an investment of an undisclosed amount in Saudi-based ICT company NourNet.

According to Jadas Fund of Funds chief executive Bandr Alhomaly, one of the firm’s primary aims is to support the growth of a local private equity ecosystem.

“[We] look forward to seeing Investcorp’s Saudi Pre-IPO Growth Fund playing an impactful role in supporting companies across the Kingdom that have strong growth trajectories and the ability to invigorate the wider SME community,” said Alhomaly.

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