• Saudi Arabia's Jada Fund of Funds, owned by the Public Investment Fund (PIF), has made its first commitment to Growth Catalyst Fund I, a private equity fund targeting $200 million to invest in growth-stage Saudi SMEs. Jada did not disclose the size of its commitment.
• Led by Turki Al-Dayel, Growth Catalyst Fund I focuses on founder-led, upper-middle-market companies in Saudi Arabia, with flexibility to invest in growth-stage and pre-IPO businesses that have outgrown venture capital but are not yet ready for public markets.
• The fund aims to help bridge Saudi Arabia's estimated SAR 300-500 billion SME financing gap, supporting companies through their expansion phase before exiting via IPOs, strategic acquisitions, or secondary transactions.

Press release:

Saudi Arabia's Jada Fund of Funds has made its first commitment to Growth Catalyst Fund I, a private equity fund targeting $200 million to support growth-stage small and medium-sized enterprises (SMEs) in the Kingdom. The investment marks another step in Jada's strategy to deepen Saudi Arabia's private capital ecosystem by backing emerging fund managers and expanding financing options for businesses beyond the venture capital stage.

Managed by Growth Catalyst Investment Management under the leadership of Turki Al-Dayel, the fund targets founder-led, upper-middle-market companies, primarily in Saudi Arabia. Its investment strategy focuses on businesses seeking growth capital and also allows investments in pre-IPO companies preparing for public market listings. Jada declined to disclose the size of its commitment.

The investment addresses a structural funding gap in Saudi Arabia's capital markets, where companies that have matured beyond the venture capital stage often have limited access to institutional growth equity before they are ready for an IPO. According to EnterpriseAM, the Kingdom's SME financing gap is estimated at between SAR 300 billion and SAR 500 billion, positioning private equity as an increasingly important source of long-term capital.

Growth Catalyst Fund I plans to support portfolio companies through their next phase of expansion before exiting through public listings, strategic acquisitions, or secondary sales. The commitment also aligns with Jada's broader mandate to strengthen Saudi Arabia's private investment landscape and increase the institutional capital available to high-growth businesses.