Jada Fund of Funds Company CEO Bandr Alhomaly has announced the launch of a new private credit market support initiative. The fund, Ruya Private Capital I LP, aims to provide investors with exposure to mid-market companies across various sectors. With a target fund size of $250 million, the initiative is part of Jada’s commitment to promoting private sector-led growth and economic diversification in line with Saudi Arabia’s Vision 2030.
Rashid Siddiqi, Founding Partner of Ruya Partners, stated that the fund’s objective is to provide non-dilutive private credit capital solutions to mid-market companies, enabling them to continue growing and eventually access local and regional capital markets.
Jada, which was established by the Public Investment Fund with an investment capital of approximately $1 billion, has 33 funds under management, with nearly $800 million already committed. The company has supported over 11,000 jobs and nearly 500 SMEs through its initiatives. This new investment is just the beginning of Jada’s support for the local private credit market, with many more deals expected to follow soon.
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