RIYADH: Jada Fund of Funds Company has announced its inaugural investment in a private credit by investing in Ruya Partners’ USD 250 million (SAR 938 million) fund, reported Saudi Press Agency on Tuesday.
A press release from Jada said that this move “reaffirms Jada’s dedication to supporting SMEs in the Kingdom of Saudi Arabia and the region, highlighting the value it places on strategic and sustainable investments facilitated through innovative funding solutions.”
CEO of Jada, Bandr Alhomaly, stated, “Our new strategy underscores our commitment to offering inventive and adaptable funding solutions to foster private sector-driven growth and economic diversification in line with the Kingdom’s Vision 2030.”
Earlier this year, Jada expanded its investment scope to include private credit, and this marks the “first investment in this promising asset class,” according to the press release.
