Jada Backs New Fund Targeting Saudi Growth-Stage SMEs

Jada Fund of Funds, owned by Saudi Arabia's Public Investment Fund (PIF), has made its first commitment to Growth Catalyst Fund I, a private equity fund targeting $200 million to invest in growth-stage small and medium-sized enterprises (SMEs) across the Kingdom.

Jada did not disclose the size of its investment. The commitment forms part of its strategy to strengthen Saudi Arabia's private capital ecosystem by backing emerging fund managers and expanding financing options beyond the venture capital stage.

Managed by Growth Catalyst Investment Management under the leadership of Turki Al-Dayel, the fund will focus on founder-led, upper-middle-market Saudi companies that have outgrown venture capital but are not yet ready for public markets. It will also invest in growth-stage and pre-IPO businesses.

The fund aims to help address an estimated SAR 300 billion to SAR 500 billion financing gap facing Saudi SMEs, providing expansion capital to businesses preparing for potential exits through IPOs, strategic acquisitions or secondary transactions.

By targeting companies between the venture capital and public market stages, Growth Catalyst Fund I is designed to bridge a structural financing gap for Saudi SMEs while supporting the Kingdom's efforts to deepen its private capital market and broaden financing options for growing businesses.