Entrepreneurial systemLEAP

Jada Fund of Funds Invests in SEEDRA Ventures Fund II to Boost Saudi Arabia’s Entrepreneurial Ecosystem

Jada Fund of Funds has announced its commitment to SEEDRA Ventures Fund II, a newly established venture capital fund managed by SEEDRA Ventures. This strategic investment aligns with Jada’s mission to support the growth and development of early-stage businesses in Saudi Arabia and the wider MENA region, contributing to the economic transformation outlined in Vision 2030.

Empowering Early-Stage Companies

Jada’s investment in SEEDRA Ventures Fund II underscores its focus on:

  • Expanding access to capital for startups in diverse sectors.
  • Fostering innovation by supporting new technologies and transformative business models.
  • Enhancing economic value through sustainable growth in the entrepreneurial ecosystem.

Leadership Insights

Bandr Alhomaly, Managing Director and CEO of Jada Fund of Funds, emphasized the importance of this collaboration, stating:

“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.”

Haitham Alforaih, Founding Partner & CEO of SEEDRA Ventures, expressed gratitude for Jada’s support, saying:

“We are grateful for Jada’s trust and commitment to the entrepreneurial ecosystem in the Kingdom. Together, we will continue to support entrepreneurs who are shaping the future of the Kingdom, advancing its position as the regional hub for technological advancements through groundbreaking innovations and transformative business models.”

About SEEDRA Ventures Fund II

SEEDRA Ventures Fund II is an early-stage venture capital fund, designed to:

  1. Support diverse industries: Adopting a sector-agnostic approach to investments.
  2. Drive innovation: Backing entrepreneurs who are redefining markets and building impactful solutions.
  3. Generate economic impact: Promoting value creation across industries in Saudi Arabia and the region.

The fund aligns closely with Jada’s strategic objectives by empowering startups, enhancing access to funding, and catalyzing the growth of Saudi Arabia’s entrepreneurial ecosystem.

Successful First Closing

SEEDRA Ventures Fund II achieved its first closing in Q2 2024, marking a significant milestone for the fund and furthering Jada’s goals of:

  • Building a strong foundation for emerging fund managers.
  • Facilitating access to capital for early-stage businesses.
  • Empowering the next generation of entrepreneurs to drive innovation and economic transformation.

Driving Saudi Arabia’s Vision 2030

Through its collaboration with SEEDRA Ventures, Jada continues to play a pivotal role in building a thriving entrepreneurial ecosystem in Saudi Arabia. This investment reaffirms the Kingdom’s commitment to innovation, technological advancement, and sustainable growth, supporting its position as a regional hub for innovation and economic diversification.

Related Articles

Back to top button