Adel Al Ateeq, CEO of Jada
Fund of Funds Co. (Jada) invested to date up to SAR 1 billion in 14 private equity and venture capital funds, CEO Adel Al Ateeq told Asharq Al-Awsat.
Jada’s investment portfolio includes more than 240 small and medium-sized enterprises (SMEs) and provided over 1,125 job opportunities in the Kingdom.
The year 2020 created many investment opportunities in various sectors, especially technology and entrepreneurship, despite the COVID-19 pandemic challenges.
Moreover, Jada has several plans for significant investments to continue generating solid returns, promote its role in the Saudi economy and boost the employment of Saudis, Al Ateeq added.
The company is also seeking to boost investments in private equity and venture capital funds, which will in turn spur finance growth in the local SME sector.
Jada has no direct investments, Al Ateeq explained, noting that investments are undertaken in partnership with other investors through funds. Every Saudi riyal invested by the company delivered parallel investments worth SAR 5.6 billion from other partners in SMEs.
In December 2019, the Public Investment Fund (PIF) launched a new company under the name of Fund of Funds (Jada) to support and empower SMEs, Argaam reported.
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