Riyadh: The SIDF Investment Company (SIC) announced today its investment in Jadwa GCC Diversified Private Equity Fund, a private equity fund managed by Jadwa Investment. The fund aims to raise SAR1.5 billion and invest in a diversified portfolio of promising private equity opportunities across various sectors in Saudi Arabia and the Gulf Cooperation Council's countries, including the industrial sector.
According to Saudi Press Agency, this investment is part of SIC's efforts to stimulate industrial investments in the Kingdom and enable national companies to expand and enhance local content. SIC is partnering with leading local and international fund managers in promising industrial opportunities, with the aim of increasing financing and investments in industrial projects within the Kingdom.
SIC also plays a pivotal role in originating and offering attractive opportunities in the industrial sector to prospective investors and supporting the growth of companies post-investment. This contributes to achieving the goals of Vision 2030, which aims to build a diversified and sustainable economy driven by the non-oil sector, and to increase the private sector's contribution to the national economy.
Commenting on the announcement, CEO of SIC Fahad Alnaeem said: "Our investment in Jadwa GCC Diversified Private Equity Fund is a continuation of SIC's efforts to back and catalyze industrial investments by channeling sustainable institutional capital into the industrial sector, and enabling its growth through distinctive financial solutions that contribute to achieving the ambitions of Vision 2030."