PIF’s Jada unveils investment in SEEDRA Ventures to back MENA’s early-stage companies - Mubasher Info

Riyadh – Mubasher: Jada Fund of Funds has invested in SEEDRA Ventures Fund II to support the growth and development of early-stage companies across diverse sectors in Saudi Arabia and the MENA region.

This move aligns with Jada’s objectives to drive the growth of Saudi Arabia’s entrepreneurial ecosystem within the framework of the Kingdom’s Vision 2030, according to a recent press release.

SEEDRA Ventures Fund II, a newly launched venture capital (VC) fund, aims to foster innovation, back entrepreneurs, and generate impactful economic value across industries.

Haitham Alforaih, Founding Partner and CEO of SEEDRA Ventures, commented: “Together, we will continue to support entrepreneurs who are shaping the future of the Kingdom, advancing its position as the regional hub for technological advancements through groundbreaking innovations and transformative business models.”

As an emerging fund manager, SEEDRA Ventures’ Fund II closed its first transaction in the second quarter (Q2) of 2024, further advancing Jada’s objectives of expanding access to capital.

Jada is a subsidiary of the Public Investment Fund (PIF) that seeks to ensure the long-term success of SMEs in Saudi Arabia, which will increase the sector’s contribution to gross domestic product (GDP).

Source: Mubasher Source: {{details.article.source}}