Saudi-based Jada makes investment in Seedra Ventures' second financing round
Seedra Ventures, a local fund manager based in the Middle East, has announced that it has received an investment from Jada, the Saudi fund of funds, for its second fund. This investment will support Seedra Ventures' continued efforts to back entrepreneurs shaping the future of the Kingdom, as stated by Haitham Alforaih, Founding Partner & CEO of Seedra Ventures.
Seedra Ventures' second fund is sector-agnostic and invests in pre-seed to Series A startups across the Middle East & North Africa. The fund focuses on early-stage investments, particularly Seed and Series A rounds, with an emphasis on information technology, software, apps, B2B, travel, e-commerce, financial services, predictive analytics, and proptech.
The fund's geographic reach extends beyond the Middle East, including Saudi Arabia, India, Luxembourg, France, the United Arab Emirates, and Egypt. Seedra Ventures' investment strategy targets multi-stage funding, providing both financing and hands-on development support from inception through Series A and beyond.
Bandr Alhomaly, Managing Director and CEO of Jada, expressed his commitment to Seedra Ventures Fund II, stating that this investment aligns with Jada's focus on enabling early-stage businesses contributing to the Kingdom's economic transformation in line with Vision 2030.
Seedra Ventures has previously invested in companies like Tamara, Classera, ZenHr, and Zid. The second fund of Seedra Ventures completed its first close in the second quarter of this year.
Although specific details about Jada’s participation in Seedra’s second fund are not explicitly mentioned, Seedra’s commitment to innovative tech startups across multiple sectors with regional diversification is evident. This is underscored by Seedra’s portfolio examples, such as AI recruitment software (ELEVATUS), satellite 5G IoT (OQ TECHNOLOGY), and no-code ERP solutions tailored for SMEs (Bonx).
In conclusion, the investment by Jada into Seedra Ventures' second fund signifies a shared focus on supporting disruptive technology startups at early stages with a geographical footprint spanning the Middle East, Europe, and South Asia. This partnership is expected to contribute significantly to the growth and development of the tech startup ecosystem in the region.
[1] Source: Seedra Ventures' official website and press releases.
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