Riyadh, Saudi Arabia – 2 December 2024: Jada Fund of Funds is pleased to announce its investment in Jadwa GCC Private Equity Fund I, a fund managed by Jadwa Investment, a leading Shariah-compliant investment management and advisory firm in the MENA region. The agreement was signed in Riyadh by Bandr Alhomaly, Managing Director and CEO of Jada Fund of Funds, and Tariq Al-Sudairy, Managing Director and CEO of Jadwa Investment.
Jadwa GCC Private Equity Fund I aims to raise SAR 1.5 billion with a hard cap of SAR 2.0 billion and will invest in companies in the Gulf Cooperation Council (GCC) countries, with a particular focus on the Kingdom of Saudi Arabia. It is Jadwa’s first regional blind pool fund, following a track record of 16 single asset funds since 2007.
Bandr Alhomaly, Managing Director and CEO of Jada Fund of Funds, said: “Backing Jadwa’s first regional blind pool fund demonstrates our commitment to supporting the evolving private equity space led by pioneering investment firms, with the aim to broaden the Kingdom’s private equity ecosystem and contribute to its economic diversification.”
Tariq Al-Sudairy, Managing Director and CEO of Jadwa Investment, said: “We are excited to partner with Jada Fund of Funds and to contribute to the development of the private equity ecosystem in Saudi Arabia through our blind pool fund, the GCC Private Equity Fund I. This investment will provide the capital necessary to grow businesses and enable their contribution to the Kingdom’s economic transformation.”
Through initiatives like this, Jada Fund of Funds supports a thriving private equity ecosystem, ensuring Saudi Arabia’s position as an attractive investment hub with a focus on long-term economic growth.
