Jada CEO says NEOM will have share in its investment funds on launching projects

29/03/2022 Argaam
Adel Alateeq, CEO of Jada Fund of Funds Co.

Adel Alateeq, CEO of Jada Fund of Funds Co.

NEOM City is still in the establishment stage and working on setting up many targeted projects, Asharq Al-Awsat reported, citing Adel Alateeq, CEO of Jada Fund of Funds Co.

 

He said that NEOM will have a share in Jada’s investment funds when NEOM itself launches its projects.

 

Jada aims to increase its investment volume by 100%, or over SAR 4 billion. Since its inception, the fund has invested over SAR 2 billion in more than 20 investment funds, distributed between several venture capital and private equity funds in the Kingdom, Alateeq added.

 

The CEO pointed out that Jada’s capital will continue to grow in the coming period, indicating it continues to invest in domestic venture capital and private equity firms.

 

Jada, owned by the Public Investment Fund (PIF), has a capital of SAR 4 billion, the CEO said.

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