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Jada Fund of Funds invests in SEEDRA Ventures’ second fund

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  • Investment Announcement: Jada Fund of Funds has committed to investing in SEEDRA Ventures Fund II, aligning with its strategy to support early-stage companies in Saudi Arabia and the MENA region.

  • Economic Alignment: The investment reflects Jada’s focus on contributing to the Kingdom’s economic transformation in line with Vision 2030, as highlighted by its Managing Director and CEO, Bandr Alhomaly.

  • Support for Entrepreneurs: SEEDRA Ventures Fund II is designed to foster innovation and assist entrepreneurs in various industries, aiming to position Saudi Arabia as a regional hub for technological advancements.

  • Sector-Agnostic Approach: The Fund II, which aims to drive impactful economic value, operates as a sector-agnostic venture capital fund, with an emphasis on generating transformative business models.

  • First Closing Achievement: SEEDRA Ventures Fund II held its first closing in Q2 2024, reflecting continued progress in expanding access to capital for emerging entrepreneurs.

Jada Fund of Funds invests in SEEDRA Ventures’ second fund


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Press release:

Jada Fund of Funds is pleased to announce its commitment to SEEDRA Ventures Fund II, a newly launched venture capital fund managed by SEEDRA Ventures. This investment is part of Jada’s ongoing strategy to support the growth and development of early-stage companies across diverse sectors in Saudi Arabia and the MENA region.

Bandr Alhomaly, Managing Director and CEO of Jada Fund of Funds, said, “Our commitment to SEEDRA Ventures Fund II underscores our focus on enabling early-stage businesses that contributes to the Kingdom’s economic transformation in alignment with Vision 2030.”

“We are grateful for Jada’s trust and commitment to the entrepreneurial ecosystem in the Kingdom,” said Haitham Alforaih, Founding Partner & CEO of SEEDRA Ventures. “Together, we will continue to support entrepreneurs who are shaping the future of the Kingdom, advancing its position as the regional hub for technological advancements through groundbreaking innovations and transformative business models.” He added.

SEEDRA Ventures Fund II is an early-stage, sector-agnostic venture capital fund that aims to foster innovation, support entrepreneurs, and generate impactful economic value across industries, aligning with Jada’s mission to catalyse the growth of Saudi Arabia’s entrepreneurial ecosystem.

As an emerging fund manager, SEEDRA Ventures’ Fund II held its first closing in Q2 2024, further advancing Jada’s objectives of expanding access to capital and empowering the next generation of entrepreneurs.

Here is a summary of the key elements from the given text regarding the investment by Jada Fund of Funds:

Funds:

  1. Jada Fund of Funds

    • Type: Fund of Funds
    • Focus: Supporting early-stage companies in Saudi Arabia and the MENA region.
  2. SEEDRA Ventures Fund II
    • Type: Venture Capital Fund
    • Focus: Early-stage, sector-agnostic investments aimed at fostering innovation and supporting entrepreneurs.

Investors:

  • Jada Fund of Funds has invested in SEEDRA Ventures Fund II.

Startups:

  • The specific startups are not mentioned in the provided text, but the focus is on supporting early-stage businesses across diverse sectors.

Founders:

  1. Haitham Alforaih

    • Title: Founding Partner & CEO of SEEDRA Ventures
  2. Bandr Alhomaly
    • Title: Managing Director and CEO of Jada Fund of Funds

Fundraise Series:

  • SEEDRA Ventures Fund II is an early-stage fund that held its first closing in Q2 2024.

This investment aligns with Jada’s strategy to catalyze growth in the entrepreneurial ecosystem within the Kingdom of Saudi Arabia as part of the Vision 2030 initiative.

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