Saudi's Jada Participates in Seedra Ventures' Second Capital Investment Round
Seedra Ventures, a local fund manager, has secured an investment from Jada, a fund of funds managed by the Public Investment Fund, for their second fund. This investment underscores Jada's focus on enabling early-stage businesses and supporting the growth of small and medium enterprises (SMEs) in Saudi Arabia and the broader Middle East region.
As an investment company, Jada operates as a fund of funds, investing in multiple venture capital and private equity funds rather than directly in startups or companies. Its mandate is to catalyse the private equity and venture capital industry in Saudi Arabia, aiming to build a healthy startup ecosystem and improve access to funding.
Jada was founded in 2018 and has exceeded its initial five-year key performance indicators within just three years, indicating rapid progress in its investment and portfolio development. One of Jada's key portfolio involvements is the Recognize Capital’s second fund, which closed with $1.7 billion, targeting digital services firms.
Seedra Ventures' second fund, which completed its first close in the second quarter of this year, is sector-agnostic and invests in pre-seed to Series A startups across the Middle East & North Africa region. The fund manager has previously invested in companies like Tamara, Classera, ZenHr, and Zid.
Bandr Alhomaly, Managing Director and CEO of Jada, stated that the commitment to Seedra Ventures Fund II underscores their focus on enabling early-stage businesses. Haitham Alforaih, Founding Partner & CEO of Seedra Ventures, expressed gratitude for Jada's trust and commitment to the entrepreneurial ecosystem in the Kingdom.
Furthermore, Haitham Alforaih stated that Seedra Ventures and Jada will continue to support entrepreneurs who are shaping the future of the Kingdom, aligning with the Kingdom's economic transformation in accordance with Vision 2030.
In summary, Jada is a significant institutional investor in regional VC/PE funds aiming to advance the startup ecosystem in Saudi Arabia and the Gulf. While the exact cumulative capital deployed by Jada is not explicitly stated, being involved in funds like Recognize’s $1.7 billion vehicle suggests participation at a significant scale.
Key Details
- Type: Investment company (Fund of Funds)
- Year Founded: 2018
- Investment Focus: Venture capital and private equity funds supporting SMEs
- Key Portfolio Involvement: Recognize Capital’s $1.7B second fund
- Mandate: Catalyze Saudi Arabia's VC and PE industry
- Progress: Exceeded 5-year KPIs in 3 years
- Capital Scale: Participates in multi-billion dollar funds; total deployed not explicitly disclosed
References:
- Jada
- Jada's Investment Strategy
- Jada's Role as a Fund of Funds
- Seedra Ventures
- Recognize Capital's Second Fund
- Jada's investment strategy revolves around venture capital and private equity funds, with a focus on enabling early-stage businesses and supporting the growth of small and medium enterprises (SMEs) in Saudi Arabia and the Middle East region, as well as participating in multi-billion dollar funds to advance the startup ecosystem.
- As part of their mandate to catalyze the private equity and venture capital industry in Saudi Arabia, Jada will continue to align with the Kingdom's economic transformation in accordance with Vision 2030 by working closely with entrepreneurs like Seedra Ventures, shaping the future of the Kingdom's technology, finance, and lifestyle sectors.
