Riyadh - Sharikat Mubasher: Jada Fund of Funds, a subsidiary of the Saudi Public Investment Fund (PIF), announced its commitment to SEEDRA Ventures Fund II, an early-stage and sector-agnostic venture capital fund managed by SEEDRA Ventures.
This investment came as part of Jada’s strategy to support the growth and development of early-stage companies across various sectors in Saudi Arabia and the Middle East and North Africa (MENA) region, the company announced in a press release.
The fund aims to foster innovation, support entrepreneurs, and generate impactful economic value across industries, in alignment with Jada’s mission to catalyze the growth of the Saudi entrepreneurial ecosystem.
Bandr Alhomaly, Managing Director and CEO of Jada Fund of Funds, said: “Our commitment to SEEDRA Ventures Fund II underscores our focus on enabling early-stage businesses that contribute to the Kingdom’s economic transformation in alignment with Vision 2030.”
Meanwhile, Haitham Alforaih, Founding Partner and CEO of SEEDRA Ventures affirmed the company’s continuous commitment to supporting entrepreneurs who are shaping the future of the Kingdom, advancing its position as the regional hub for technological advancements through cutting-edge innovations and transformative business models.
It is worth noting that SEEDA Ventures Fund II held its first closing during the second quarter of 2024, advancing Jada’s objectives of expanding access to capital and empowering the next generation of entrepreneurs.
