Jada Fund of Funds Company, a subsidiary of the Saudi Public Investment Fund (PIF), partnered with Aliph Capital to back small and medium enterprises (SMEs) across the Kingdom.
Jada plans to invest in Aliph Capital’s GCC-focused fund Aliph Fund I, according to a press release.
Founded by Huda Al Lawati, Aliph Capital is an Abu Dhabi Global Market (ADGM) domiciled alternative investment manager that targets $250 million in commitments.
The fund, which targets high-quality mid-sized companies across the GCC, has been anchored by Abu Dhabi-based investment and holding company ADQ.
In line with its strategy and Jada’s objectives, the fund focuses on value creation as well as digital transformation.
Bandr Alhomaly, CEO of Jada Fund of Funds, commented: “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.”
“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 noted.
Al Lawati, Founder and CEO of Aliph Capital, said: “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 realizing that opportunity.”
