RIYADH: Jada Fund of Funds has committed to Growth Catalyst Fund I, a Saudi private equity fund targeting SR750 million ($200 million) to invest in mid-market companies across the Kingdom.
Jada, a wholly owned subsidiary of the Public Investment Fund, is acting as an early institutional backer of the fund at its first close.
The announcement, which did not disclose the size of Jada’s commitment, comes as government-backed investors continue to support the expansion of Saudi Arabia’s private capital market through commitments to new investment vehicles.
In recent months, Jada Fund of Funds backed Stride Ventures Debt Fund V to broaden private debt financing, while the SIDF Investment Co. invested in Khwarizmi Ventures Fund II to support technology startups, underscoring a wider effort to develop a full spectrum of funding options for Saudi businesses.
Scaling Saudi companies
