Monday May 27th, 2024
Download the app
Copied

PIF-backed Jada Invests $266 Million to Support Venture Debt in KSA

The fund will allow investors to become exposed to fast-growing mid-market companies with high potential across several sectors.

Startup Scene

PIF-backed Jada Invests $266 Million to Support Venture Debt in KSA

Jada Fund of Funds, a subsidiary of Saudi Arabia's Public Investment Fund, is making an investment in a $266 million fund called Partners for Growth VII that will work to support the kingdom's venture debt ecosystem. This will be the first investment made by Jada Fund of Funds in venture debt, and the second they've made in the private credit space.

The fund will allow investors to become exposed to fast-growing mid-market companies with high potential across several sectors. As an international fund manager with assets worth $1 billion, Partners for Growth has secured commitments from institutional investors from around the globe.

In November 2023, Jada Fund of Funds made its first investment in private credit with an investment in Ruya Partners' $250 million fund. As of March 2024, Jada Fund of Funds has invested a total of SAR 3.5 billion across 39 funds in order to support small and medium enterprises in Saudi Arabia. Through these funds, they have enabled the creation of about 12,000 jobs and over 500 SMEs in the Kingdom.

×

Be the first to know

Download

The SceneNow App
×