PIF-backed Jada, Alpha Capital sign pact to invest in Saudi SMEs

Jada, the Fund of Funds Company, established by the Public Investment Fund (PIF), signed on Nov. 4, an agreement with Alpha Capital to invest in growth-stage small and medium enterprises (SMEs) in the Kingdom’s food and beverage (F&B) sector.

The agreement will boost contributions to the Kingdom’s private equity investment sector.

“The agreement marks Jada’s first investment in private equity funds, having previously invested in several venture capital funds. It is a clear indication of our confidence in the fund’s investment team at Alpha Capital to implement the investment strategy in accordance with global private equity best practices,” Adel Al-Ateeq, CEO of Jada, said.

“The fund management will be supervised by an investment team characterized by a diversity of experiences in fund management, strategy and corporate governance,” Fahad bin Khaled Al-Saud, Managing Director and CEO of Alpha Capital, added.

Jada has been set up by PIF with an investment of SAR 4 billion to increase the localization of non-oil sector economic growth and build an ecosystem of private equity and venture capital activity that can drive long-term diversification and raise the SME sector’s contribution to the Kingdom’s GDP by 2030.