Saudi PIF’s Jada partners with Aliph Capital to boost SMEs
The fund, anchored by Abu Dhabi-based investment and holding company ADQ, targets high-quality mid-sized companies across the GCC region.
Jada Fund of Funds Company, a subsidiary of the Saudi Public Investment Fund (PIF), has joined hands with Aliph Capital to back small- and medium-sized companies across the country.
According to a press release on Zawya, Jada plans to invest in Aliph Capital's GCC-focused fund Aliph Fund I.
"Our alliance with Aliph Capital reflects a joint objective: to bolster SMEs, an integral component of Saudi Arabia's economic framework, and to equip them with capital, talent, and technology,” Bandr Alhomaly, CEO of Jada Fund of Funds, said.
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“We believe that strong managers play a key role by applying their expertise in selecting good assets and guiding portfolio companies towards contributing to Saudi Arabia’s economic diversification objectives,” Alhomaly added.
The fund, anchored by Abu Dhabi-based investment and holding company ADQ, targets high-quality mid-sized companies across the GCC. It is closely aligned with Jada's objectives, adopting a proactive approach centred on value creation and digital transformation.
“The potential of SMEs within the Kingdom of Saudi Arabia is vast, and I am delighted that Aliph Capital has the opportunity to play an impactful role in realising that opportunity,” Al Lawati, Founder and CEO of Aliph Capital, said.
Founded by Huda Al-Lawati in 2021, Aliph Capital is an Abu Dhabi Global Market-based private equity fund manager focused on mid-market and emerging high-growth companies in the GCC. The alternative investment manager is targeting $250 million in commitments.
In October 2022, the fund's GCC-focused Aliph Fund I secured a $125 million investment from ADQ.
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Edited by Suman Singh
