Investcorp announced a commercial partnership with Awaed, the first commission-free Saudi trading platform. Under the terms of the partnership, Awaed will enable their clients to invest into Investcorp’s Saudi Pre-IPO Growth Fund.
Investcorp is one of the first global asset manager to set up a strategic fintech commercial partnership of this kind in the Middle East, democratizing the alternative investments space. Awaed is a leading digital investment platform in Saudi Arabia and is the first fintech in Saudi Arabia to receive a full license from the Saudi Capital Markets Authority.
This pioneering initiative will increase the avenues of investment for investors, providing access to Investcorp’s Saudi Pre-IPO Growth Fund. The Fund is dedicated to investing in a diversified portfolio of companies at a “pre-IPO” stage of development in Saudi Arabia, provides investors with an opportunity to gain exposure to growing and market-leading businesses in the Kingdom.
Through this initiative, Investcorp is reaffirming its commitment to the Kingdom of Saudi Arabia. This commercial partnership will actively contribute towards the thriving economy vertical of Saudi Arabia’s Vision 2030 by improving accessibility to investment products for investors, with the aim of building the personal wealth of the population.
Mashaal AlJomaih, Managing Director and Deputy CEO of Investcorp KSA commented: “Our partnership with Awaed not only ties into our strategic aims in Saudi Arabia, but also directly supports Vision 2030. With this vehicle, investors have an additional gateway to investment opportunities and can access the returns potential associated with private markets. The Fund has partnered successfully with founders to scale and grow their companies towards potential IPOs and/or other types of value enhancing transactions which have the potential to deliver positive returns for shareholders along the way.”
Adel Alateeq, Chief Executive Officer, Awaed, commented: “Partnering with a global asset manager like Investcorp offers our clients unparalleled access to a diverse range of companies, all at a pre-IPO stage in Saudi Arabia. With this, our clients can participate in the growth of homegrown companies, which have been strategically selected by Investcorp. We look forward to working together, to provide our clients with access to growing and market-leading companies in Saudi Arabia.”
Nahar Houthan, Managing Director, Investcorp Private Wealth, commented: “As part of Investcorp’s technological advancement, we are pleased to be working with leading fintech Awaed to offer a unique and first of its kind fund in Saudi Arabia. Together, we will continue to champion local businesses and will support them on their value and growth journey, contributing to the Kingdom’s Vision 2030 and diversification targets.”
