Investcorp has announced that Jada Fund of Funds, a subsidiary of the Public Investment Fund (PIF), has committed to invest in Investcorp Saudi Pre-IPO Growth Fund (the “Fund”). The Fund was launched last year to invest in a diversified portfolio of companies, primarily based in Saudi Arabia that are targeting to access the public capital markets over the next few years.

The Fund is targeting equity growth capital investments across a range of companies primarily based in Saudi Arabia with the potential to access the capital markets within 3-4 years. The Fund provides investors with an opportunity to gain exposure to growing and market-leading businesses in strategic, high growth and underserved sub-sectors such as business services, transport and logistics, healthcare and consumer.

“One of Jada’s primary goals is to support the growth of the local private equity ecosystem, and we look forward to see 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 Bandr Alhomaly, CEO of Jada Fund of Funds Company”.

“Jada’s commitment to Investcorp Saudi Pre-IPO Fund marks the start of a long-term strategic partnership, as Investcorp continues to grow its assets under management across multiple asset classes in Saudi Arabia,” said Yasser Bajsair, Head of Investcorp Saudi Arabia.