PIF's Jada makes first venture debt investment through fund worth over SAR 1B

Logo of Jada Fund of Funds

Jada Fund of Funds, a subsidiary of the Public Investment Fund (PIF), announced its first investment in venture debt through Partners for Growth VII, which is managed by Partners for Growth, with assets worth SAR 3.75 billion ($1 billion).

In a statement, the company said the move aims to support the growth of the venture debt ecosystem in the Kingdom. It is also to support small- and medium-sized enterprises (SMEs) in the Kingdom and underscores “the value it sees in strategic and sustainable investments made through innovative funding solutions.”

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Partners for Growth is an international fund manager that has secured commitments from a wide range of sophisticated institutional investors from around the globe, making it a serious contributor to foreign direct investments (FDIs) in the Kingdom.

Partners for Growth VII, with a fund size of over SAR 1 billion, provides investors with an opportunity to gain exposure to fast-growing and high-potential mid-market companies across a variety of sectors.

“Last November, Jada announced its first investment in private credit and promised to make additional investments in this asset class in the near future, said Bandr Alhomaly, CEO of Jada.

"Our investment in Partners for Growth VII marks our second investment in the local private credit space and first in venture debt. Our strategy reinforces our commitment to providing additional funding solutions and attracting FDIs to promote economic growth and diversification guided by Vision 2030,” Alhomaly added.