PIF’s Jada Unveils Its First Investment in Venture Debt
This move is aimed at bolstering the venture debt landscape in Saudi Arabia.
The Saudi Public Investment Fund's (PIF) subsidiary, Jada Fund of Funds, is diving into venture debt with its latest investment in Partners for Growth (PFG), which manages assets worth SAR 3.75 billion ($1 billion).[1]
This move is aimed at bolstering the venture debt landscape in Saudi Arabia.
Jada Fund was established with an initial investment capital of SAR 4 billion ($1.07 billion) by the PIF.
Jada Fund of Funds has revealed its investment in Partners for Growth VII, a branch of Partners for Growth, which boasts a fund size of SAR 1 billion ($270 million).
Partners for Growth VII offers investors exposure to rapidly growing mid-market companies across various sectors. Notably, PFG has previously invested in fintech giants like Tabby and Tamara in the region.
With commitments from a diverse range of institutional investors worldwide, PFG contributes significantly to foreign direct investment in Saudi Arabia.
