- Saudi Arabia-based Jadwa Investment has acquired 70 per cent of Kuwaiti company Dabdoob Holdings, marking Jadwa’s first regional VC investment through Jadwa E-Commerce Opportunities Fund.
- Founded in December 2017 by Abdulaziz Al Dhubaib, Ahmad Al Shaya, Mohammed Alhajery and Sulaiman Al Anjeri, Dabdoob is a child-centric e-commerce retailer, that operates in the GCC region and offers toys, books, costumes and games with a same-day delivery service.
- Jadwa Investment, founded in 2006 in Riyadh, is a financial services firm.
- Dabdoob, along with Jadwa, is planning to expand across the Mena region.
Saudi Arabia's Jadwa Investment has acquired a majority stake of 70 per cent in Kuwait-based Dabdoob Holdings, owner of the largest toy e-commerce application in the GCC.
This was Jadwa Investment’s first regional venture capital investment through Jadwa E-Commerce Opportunities Fund.
Founded in December 2017 in Kuwait, Dabdoob has evolved into a specialised e-commerce platform for toys and gifts, focusing on children aged 0-12 years old. After becoming the market leader in Kuwait, Dabdoob embarked on a regional expansion strategy by rolling out their best-in-class offering in all GCC countries and plans to expand further across the Middle East and North Africa region.
Next stage of growth
Commenting on the investment, Tariq Al-Sudairy, Managing Director and CEO of Jadwa Investment, said: “Dabdoob’s management has demonstrated an exceptional ability to capitalise on important industry trends since the company’s establishment, and we look forward to contributing to Dabdoob’s next stage of growth through this partnership.”
Saad Al-Saif, Head of Private Equity at Jadwa Investment, added: “As private equity investors, we scan emerging trends and look to invest in and empower strong teams. Dabdoob has a well-recognised brand, strong product offering, unique wrapping, and same-day delivery. Together, these comprise a formula for success in the toys and gifts space.”
Speaking for Dabdoob, Mohammad Al-Hajeri, CEO, added: “Jadwa’s investment in Dabdoob constitutes an important milestone for the company and a launch pad towards our next growth phase. With Jadwa’s like-minded partnership and full-backing, we are now keen to accelerate the implementation of our strategic initiatives and expansion plans across the wider Mena region.”