Fund of Funds Company (Jada)

Fund of Funds Company (Jada,) which is headquartered in the capital, Riyadh, is owned by the Public Investment Fund (PIF.) Jada invests in private equity and venture capital funds to support and incentivize Small and Medium Enterprises (SMEs.)

The Fund of Funds Company was established by a decision of the Council of Ministers in 2016 under the name Fund of Funds Holding with a capital of SAR4 billion under the joint supervision of the Ministry of Commerce and Investment (currently the Ministry of Commerce) and the Public Investment Fund. On December 18, 2019, the Public Investment Fund announced its ownership of the Fund of Funds, as one of its companies and under a new name: Fund of Funds (Jada,) which is the first company of its kind to support SMEs within the Kingdom. The term Jada means heavy and widespread rain.

Jada stimulates the economy to develop the investment sector in private equity and venture capital funds, which focus on investing in promising Saudi startups and attracting those investments regionally and globally.

The company has generated 10,567 jobs since its inception until June 2023. The total funding commitments amounted to SAR2.6 billion, Moreover, 453 SMEs were supported, and the total capital invested amounted to about SAR914 million, while the company managed a total of twenty-nine funds.

Jada is expected to contribute SAR8.6 billion to the gross domestic product (GDP) by 2027, and generate fifty-eight thousand new job opportunities.

The Fund of Funds Company, in addition to its support for SMEs, targets a number of indirect goals for the Public Investment Fund, such as increasing the local content in non-oil sectors, growing the digital economy, localizing promising industries, and facilitating access to health services.