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Saudi Arabia's healthcare group Fakeeh Care announces IPO
VCCircle
·
1y ago
Medial
Saudi Arabian private hospital group Fakeeh Care Group has announced plans for an initial public offering (IPO) through the sale of a 21.47% stake in existing and new shares. The family-owned business, which operates hospitals in Jeddah and Riyadh, aims to offer 30 million new shares and 19.8 million existing shares to investors. The company did not disclose the expected amount to be raised or the potential company valuation. This announcement follows Saudi Arabia's push to encourage more family-owned businesses to list as part of its capital market reforms.
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TVM Capital raises $250 mn for Saudi-focused healthcare fund
VCCircle
·
1y ago
Medial
Healthcare private equity firm TVM Capital Healthcare has raised approximately $250 million for its Afiyah Fund, which focuses on investing in Saudi Arabia's healthcare sector. The fund attracted investments from Saudi Arabian, Gulf Cooperation Council, and European investors, with Jada, Saudi Arabia's Public Investment Fund's (PIF) fund of funds company, leading the group. TVM Capital expects to mobilize a total of $400 million to $500 million for investments in Saudi Arabian and international companies with expansion projects in the kingdom. The fund's initial investments include Baraya Extended Care, a post-acute care and rehabilitation clinics chain in Riyadh, and DEBx Medical, an Amsterdam-based wound care company entering the Saudi market.
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AWS and Saudi Arabia's Humain Forge $5B AI Alliance to Propel Kingdom's Vision 2030
StartupTalky
·
2m ago
Medial
AWS and Saudi Arabia's Humain announced a $5 billion AI alliance to support Saudi Arabia's Vision 2030 by establishing an "AI Zone" for advancing AI capabilities. This collaboration includes AWS infrastructure, machine learning services like SageMaker and Bedrock, and aims to foster AI innovation and economic growth. The initiative will enhance AI applications in sectors like government, healthcare, and education, furthering Saudi Arabia's ambition to become a global AI leader and accelerate regional digital transformation.
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Jada strikes year's first LP bet in Riyadh-based PE vehicle
VCCircle
·
1y ago
Medial
Jada Fund-of-Funds, backed by Saudi Arabia's PIF, has made its first limited partner investment in a tech-focused private equity vehicle based in Riyadh. Jada has already invested $830 million in over 36 funds, including Iliad Tech Ventures Fund I and Investcorp's Saudi Pre-IPO Growth.
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Saudi's SMASCO sets issue price for $240 mn IPO
VCCircle
·
1y ago
Medial
Saudi Arabian staffing company, SMASCO, has announced the final IPO price for its initial public offering on the Saudi Exchange. The company aims to raise up to $240 million by offering 120 million shares at a price of 7.50 riyals per share, representing a 30% stake. The individual investor subscription process will begin next week. This IPO is part of Saudi Arabia's efforts to deepen its capital markets and attract investment. However, the IPO market in the MENA region has experienced a slowdown this year, with IPO proceeds down 66% compared to the previous year.
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Saudi Arabian poultry producer Entaj plans to sell 30% stake in Riyadh IPO
VCCircle
·
6m ago
Medial
Saudi Arabian poultry producer Entaj plans a 30% stake sale through an IPO in Riyadh, becoming the second Saudi firm to announce a flotation this year. Established in 2004, Entaj operates 26 broiler farms with a production capacity of 185 million birds annually. Vice Chairman Ziyad Al Sheikh highlighted the IPO's alignment with Saudi Arabia's Vision 2030, aiming to invest in infrastructure for sustainable growth. SNB Capital is appointed as the lead manager for the IPO.
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Saudi airline flynas launches IPO to raise up to $1.1 bn
VCCircle
·
2m ago
Medial
Saudi Arabian budget airline flynas, backed by Prince Alwaleed Bin Talal, aims to raise up to $1.1 billion via an IPO in Riyadh, selling a 30% stake at 76 to 80 riyals per share, valuing the company at up to $3.6 billion. The IPO, the first by a Gulf airline in nearly two decades, supports Saudi Arabia's tourism growth strategy, reducing oil dependency. Proceeds will support flynas's growth and shareholder distributions.
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Jada strikes year's first LP bet in Riyadh-based PE vehicle
VCCircle
·
1y ago
Medial
Jada Fund-of-Funds, backed by Saudi Arabia's Public Investment Fund, has made its first limited partner investment of the year in a tech-focused private equity vehicle based in Riyadh. Jada has already committed over $830 million to more than 36 funds, including Iliad Tech Ventures Fund I and Investcorp's Saudi Pre-IPO Growth Fund.
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Jada strikes year's first LP bet in Riyadh-based PE vehicle
VCCircle
·
1y ago
Medial
Jada Fund-of-Funds, backed by Saudi Arabia's Public Investment Fund, has made its first limited partner investment in a technology-focused private equity vehicle based in Riyadh. Having already committed $830 million in capital to 36 funds, Jada continues to expand its portfolio. Some notable investments include Iliad Tech Ventures Fund I and Investcorp's Saudi Pre-IPO Growth.
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In Charts: How Middle East sovereign funds are cementing their global dominance
VCCircle
·
1y ago
Medial
Middle East sovereign wealth funds, including Saudi Arabia's Public Investment Fund, increased their investment activity in 2023 and expanded their influence in the global market. These funds outpaced state-backed investors from other countries like Singapore and Canada. Saudi Arabia's sovereign wealth fund took the lead in dealmaking.
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Orbit Startups and Sanabil Invest launch new accelerator for tech startups in MENA
YourStory
·
7m ago
Medial
Orbit Startups and Sanabil Investments have launched the Sanabil Accelerator by Orbit to support early-stage startups in Saudi Arabia and the MENA region, focusing on fintech, healthcare, ecommerce, and mobility. The program offers $100,000 initial investment and emphasizes sales, marketing, and product development over four months. It aims to bridge innovation and economic growth, providing startups access to a network of mentors and investors, aligning with Saudi Arabia's vision for digital innovation.
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