Riyadh - Sharikat Mubasher: Jada Fund of Funds, a subsidiary of the Saudi Public Investment Fund (PIF), announced investing in Jadwa GCC Private Equity Fund I, managed by Jadwa Investment, a leading Shariah-compliant investment management and advisory firm in the Middle East and North Africa (MENA) region.

Being Jadwa’s first regional blind pool fund, Jadwa GCC Private Equity Fund I aims to raise SAR 1.5 billion with a hard cap of SAR 2 billion, focusing on companies in the GCC countries, a recent press release unveiled.

The investment agreement was signed by Bandr Alhomaly, Managing Director and CEO of Jada Fund of Funds, and Tariq Al-Sudairy, Managing Director and CEO of Jadwa Investment.

Commenting on the partnership, CEO Alhomaly 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.”

On his part, Al-Sudairy stated that the investment will provide the necessary capital to grow businesses and enable their contribution to the Kingdom’s economic transformation.

“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,” he said.

Moreover, the investment reflects Jada’s commitment to supporting a thriving private equity ecosystem while solidifying Saudi Arabia’s position as an attractive investment hub focusing on long-term economic growth.