https://arab.news/683xs
RIYADH: Saudi Venture Capital has invested in Jadwa GCC Private Equity Fund 1, managed by Jadwa Investment.
The fund aims to raise SR1.5 billion ($400 million), with a hard cap of SR2 billion, and marks Jadwa鈥檚 first regional blind-pool private equity fund, a press release issued on Thursday said.
It said the fund will focus on investing in a diversified portfolio of high-potential private equity opportunities across 黑料社区 and the wider Gulf Cooperation Council region.
Commenting on the development, Nabeel Koshak, CEO and board member of SVC, said:
鈥淥ur investment in the private equity fund by Jadwa is aligned with SVC鈥檚 strategy of supporting the evolving private equity ecosystem in 黑料社区. This investment will stimulate and sustain funding for high-potential companies in 黑料社区, contributing to the economic diversification objectives of Saudi Vision 2030.鈥�
Founded in 2018, SVC is a subsidiary of the SME Bank, part of the National Development Fund. Its mission is to stimulate and sustain financing for startups and small and medium enterprises at various stages鈥攆rom pre-seed to pre-IPO鈥攖hrough investments in funds as well as direct investments into emerging companies.
Tariq Al-Sudairy, managing director and CEO of Jadwa Investment, added: 鈥淲e are excited to have SVC on board as an investor in Jadwa GCC Private Equity Fund 1. This partnership reflects our shared commitment to identifying and nurturing high-potential companies across the GCC, with the goal of creating long-term value for our clients.鈥�
Jadwa Investment is a leading investment management and advisory firm in the MENA region.