The Jada Fund of Funds has committed to SEEDRA Ventures Fund II, a sector-agnostic early-stage venture capital fund.
This investment supports the growth of early-stage companies across Saudi Arabia and the MENA region.
SEEDRA Ventures Fund II aims to foster innovation and promote impactful startups, advancing Jada’s mission to expand venture capital access.
Jada Fund of Funds, a subsidiary of Saudi Arabia’s Public Investment Fund (PIF), has announced its commitment to SEEDRA Ventures Fund II, an early-stage venture capital fund.
This fund, managed by SEEDRA Ventures, is sector-agnostic, meaning it is not limited to any specific industry. It seeks to invest in a wide range of startups and early-stage businesses offering much-needed capital.
Jada’s commitment also marks a milestone in its mission to boost the Saudi Arabian entrepreneurial ecosystem.
Jada Fund of Funds: Fostering Growth Across Sectors in MENA
Jada’s investment is part of a broader strategy aimed at supporting the growth of early-stage companies across various sectors. It also extends throughout the wider Middle East and North Africa (MENA) region.
Additionally, the move is in line with Saudi Vision 2030, the country’s long-term plan to diversify its economy and reduce its dependence on oil by nurturing new industries and supporting entrepreneurship.
SEEDRA Ventures Fund II is expected to play a pivotal role in this transformation by providing startups with the capital they need to scale and innovate.
Jada Fund of Funds: Promoting Innovation and Expanding Capital Access
So far, the fund’s primary objective is to foster innovation and promote the development of impactful startups. By supporting entrepreneurs, Jada is helping to generate significant economic value. It covers various industries, from technology to manufacturing and beyond.
Furthermore, this commitment to SEEDRA Ventures underscores Jada’s role as a catalyst in expanding access to VC for early-stage companies. The first closing of SEEDRA Ventures Fund II, achieved in the second quarter of 2024. This is a key milestone that reflects the progress being made toward Jada’s goals.
Jada Fund of Funds: Driving Saudi Arabia’s Entrepreneurial Ecosystem
As part of this initiative, Jada Fund of Funds also aims to empower the next generation of Saudi entrepreneurs.
“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,” said Bandr Alhomaly, Managing Director and CEO of Jada Fund of Funds.
Additionally, this partnership reflects Jada’s ongoing mission to expand capital access. The support will promote innovation, and advance Saudi Arabia’s position as a regional hub for technological advancements.
With the support of Jada, SEEDRA Ventures will also continue driving the growth of transformative business models. SEEDRA Ventures will be helping to shape the future of the Kingdom’s entrepreneurial landscape.
