- A unit of Saudi Arabia’s Public Investment Fund (PIF) has invested in a fund managed by Partners for Growth (PFG), totaling $1 billion in assets under management.
- This move marks Jada Fund of Fund’s second venture into the private credit sector and aims to bolster the growth of venture debt in Saudi Arabia.
- Jada’s CEO, Bandr AlHomaly, highlighted the investment’s alignment with the commitment to support SMEs and attract foreign direct investment (FDI) to drive economic growth and diversification as outlined in Vision 2030.
A division of Saudi Arabia’s Public Investment Fund (PIF), Jada, has entered the venture debt arena by investing in a fund managed by private credit manager Partners for Growth (PFG), boasting assets under management totaling $1 billion.
This recent investment marks Jada Fund of Fund’s second venture into private credit and is geared towards fostering the growth of the venture debt sector withinhttps://jada.com.sa/en Saudi Arabia. According to a statement, this move underscores Jada’s commitment to supporting small- and medium-sized enterprises (SMEs) in the kingdom.
Bandr AlHomaly, CEO of Jada Fund of Funds, highlighted, “Our investment in Partners for Growth VII signifies our second venture into the local private credit market and our initial foray into venture debt.”
He added, “Our approach underscores our dedication to offering additional funding avenues and attracting foreign direct investment (FDI) to advance economic growth and diversification in line with Vision 2030.”
Managed by PFG, Partners for Growth VII boasts a fund size exceeding SAR 1 billion ($266 million).
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