Saudi Jada: Pandemic resulted in $266 mln worth of investment opportunities in 2020
Published 18 Jan,2021 via Asharq Alawsat (English Edition) - 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.
Jada – the Saudi Fund of Funds - was approved by the Saudi Council of Ministers in 2016 and launched in 2019. Al Ateeq said that the company - founded by the Public Investment Fund (PIF) with a capital of 4 billion riyals (one billion dollars) - is focusing on benefiting from the diversity of resources and the multiplicity of sectors, activating the human potential and attracting foreign investments.
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Asharq Alawsat