Riyadh, Saudi Arabia – 18 November 2024: Jada Fund of Funds is pleased to announce its commitment to SEEDRA Ventures Fund II, a newly launched venture capital fund managed by SEEDRA Ventures. This investment is part of Jada’s ongoing strategy to support the growth and development of early-stage companies across diverse sectors in Saudi Arabia and the MENA region.
Bandr Alhomaly, Managing Director and CEO of Jada Fund of Funds, said, “Our commitment to SEEDRA Ventures Fund II underscores our focus on enabling early-stage businesses that contributes to the Kingdom’s economic transformation in alignment with Vision 2030.”
“We are grateful for Jada’s trust and commitment to the entrepreneurial ecosystem in the Kingdom,” said Haitham Alforaih, Founding Partner & CEO of SEEDRA Ventures. “Together, we will continue to support entrepreneurs who are shaping the future of the Kingdom, advancing its position as the regional hub for technological advancements through groundbreaking innovations and transformative business models.” He added.
SEEDRA Ventures Fund II is an early-stage, sector-agnostic venture capital fund, aims to foster innovation, support entrepreneurs, and generate impactful economic value across industries, aligning with Jada’s mission to catalyze the growth of Saudi Arabia’s entrepreneurial ecosystem.
As an emerging fund manager, SEEDRA Ventures’ Fund II held its first closing in Q2 2024, further advancing Jada’s objectives of expanding access to capital and empowering the next generation of entrepreneurs.
