Suspect charged after Vancouver car ramming leaves 11 dead    Suspect in killing of general claims he was paid by Ukraine    North Korea confirms troop deployment to Russia for first time    Rock & Roll Hall of Fame picks Outkast but not Oasis    400-800 year old giant coral colony discovered within AMAALA waters in the Red Sea    Makkah police arrest Yemeni and Egyptian suspects of fake Hajj campaign    Kafalah grants 1,900 loan guarantees worth over SR4.8 billion to SMEs during 1Q 2025    Council of Senior Scholars reaffirms performing Hajj without a permit is a sinful act    HR Ministry launches 'Ajeer Al-Hajj' service for seasonal work during Hajj 2025    stc reports strong first-quarter 2025 results with 11% rise in net profit    King and Crown Prince offer condolence to Iranian president over the deadly port explosion    Saudi Awwal Bank records SR2.1 billion net profit after zakat and income tax for 1Q25    Virgin Atlantic celebrates one month of nonstop service between London and Riyadh    Al Ahli cruise past Buriram into AFC Champions League Elite semi-finals    Duran leads Al Nassr past Yokohama Marinos into AFC Champions League Elite semi-finals    Saudi orchestra to perform at Sydney Opera House in May    Al Hilal thrash Gwangju to reach AFC Champions League Elite semi-finals    Saudi Theater Commission launches its Work and Learn Project in UK    The season has begun — and one comment shook us all    Average life expectancy in Saudi Arabia rises to78.8 years    Pakistani star's Bollywood return excites fans and riles far right    Veteran Bollywood actor Manoj Kumar dies at 87    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Jada, Alpha Capital deal to target growth stage SMEs in Saudi Arabia
Published in The Saudi Gazette on 04 - 11 - 2020

Jada, the Fund of Funds Company, part of Saudi Arabia's Public Investment Fund (PIF), Wednesday signed an investment 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, which was signed by Adel Al-Ateeq, CEO of Jada and Fahad Bin Khaled Al-Saud, Managing Director and CEO of Alpha Capital, will boost contributions to the Kingdom's private equity investment sector.
Commenting on the occasion, l Al-Ateeq said, "Jada's commitment to the Alpha Capital today underscores its aim to foster local innovation and entrepreneurship by directing capital to promising, emerging Saudi-based SMEs through private equity investments."
He added: "This investment 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."
Alpha Capital is licensed by the Capital Market Authority and is one of the leading and most active companies in private equity and asset management.
Al-Saud said: "We aim to develop long-term capital gains by investing in companies that have the potential to grow and scale, and are managed by capable and ambitious entrepreneurs. The fund management will be supervised by an investment team characterized by a diversity of experiences in fund management, strategy and corporate governance."
Jada was established by the Saudi Public Investment Fund (PIF) with an investment of SR4 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 the Kingdom's long-term diversification and raise the SME sector's contribution from 21 percent to 35 percent of the Kingdom's GDP by 2030.
By stimulating investment in private equity and venture capital funds, the Fund of Funds finances the growth of the Kingdom's SME sector, while guiding the management of the fund's beneficiary companies. — SG


Clic here to read the story from its source.