RIYADH: Saudi Jada, Fund of Funds Co. established by the Public Investment Funds, plans to launch funds to attract investments in favor of NEOM, and transfer global expertise from its US counterpart, Miami. Revealed during the Saudi Catalyze event held in Riyadh on March 28, it also encompassed a partnership agreement between NEOM and Miami. “We are looking to increase the
Search
Fintech, Digital Commerce, Healthtech in Saudi Arabia are Expected to Attract Substantial VC Funding in 2021, Local Sources Reveal
February 7, 2021 @ 7:36 pm By Omar Faridi
Saudi Arabia’s venture capital funds are increasingly looking to tap into Fintech, digital commerce, and healthcare segments this year.
VC activity has increased considerably in the MENA region including Saudi Arabia during the past few years, with local startups recording a 55% year-over-year growth in funds raised in 2020, according to a report from Arab News which cited estimates from
MAGNiTT.
In a post-COVID world, there are a few sectors in Saudi Arabia that have emerged as good candidates for VC funding as the pandemic has accelerated the shift towards all-digital services and technologies.
Monday, 18 January, 2021 - 10:30
Adel Al Ateeq, CEO of Jada Fund of Funds Co. (Jada) (Photo: Asharq Al-Awsat). Riyadh - Mosaed al-Zayani
Adel Al Ateeq, CEO of Jada Fund of Funds Co. (Jada), said that the goal of the company was to stimulate investment in private equity and venture capital funds, thus financing the growth of the small and medium enterprises (SMEs) sector in Saudi Arabia in a sustainable manner.
“In Jada, we are not only looking for profit, but we are forming a nest for an entire sector, the investment sector, with the aim of enhancing its positive contribution to the Saudi economy,” Al Ateeq told Asharq Al-Awsat in an exclusive interview.