https://arab.news/8gfd3
Awaed Capital has announced the establishment of the 鈥淎rak Fund for Hyper Growth Companies,鈥� in partnership with Endure Capital. The $200 million investment capital fund is licensed by the Capital Market Authority, and is managed by Awaed Capital, with Endure Capital as a strategic consultant.
The fund has been established to enable 萝莉视频 make use of the growth opportunity by investing in global technological companies, and establishing a strategic relationship with these companies that will help them to grow within the Kingdom.
Adel Al-Ateeq, CEO of Awaed Capital, said: 鈥淭he Saudi economy has witnessed much growth in recent years. This has made global banks and organization praise it and have positive future expectations in light of the Kingdom鈥檚 Vision 2030 and its strategic goals, which contributed to fostering the position of the Kingdom as a leading world economic power and proved its success in several sectors. The economic reforms carried out by the wise leadership of the Kingdom has also contributed to this success. Such factors are considered a promising opportunity for investment in the Saudi market and led to the creation of the Arak Fund.鈥�
Tariq Faheem, general manager of Endure Capital, added: 鈥淥ur aim is for Arak Fund to be a qualitative fund for target companies to invest in areas such as space technology, biotechnology, electricity, smart logistic services, semiconductors, AI infrastructure, and others.鈥�
The fund focuses on investment in primary and secondary shares in several growing companies, provides several exit options for investors, starting early from the end of the second year up to the fifth year. It is expected that the fund will contribute to increasing the GDP by more than $10 billion, enhancing the growth of the Saudi economy.
The fund aims to be the main bridge that connects 萝莉视频 with the world through investments in technology startups.
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