Artal Capital, an investment firm based in Riyadh with expertise in multiple asset classes, has achieved the initial close of its private equity fund that is dedicated to nurturing high-growth, technology-driven startups in Saudi Arabia and the broader Gulf Cooperation Council (GCC) area.
With over $600 million in managed assets, Artal Capital, which garnered commitments from the PIF-backed Jada Fund-of-Funds among others, has reached the first milestone of its $133 million Growth Opportunities Fund. The initial capital raise also includes investments from the General Partner itself.
As a CMA-licensed independent investment management company, Artal Capital operates across various asset classes including private equity, public equity, fixed income, money market, and multi-asset management. Formerly known as Value Partners Company, Artal has established itself as a significant player in the region’s investment landscape.
The Artal Growth Opportunities Fund, launched in the middle of the previous year, stands as Artal Capital’s sole private equity investment vehicle. The fund is designed to invest in 8 to 10 technology-enabled mid-market firms, allocating an average of $10-20 million to each enterprise.
The firm expressed its enthusiasm for the successful first close of its Growth Opportunities Fund, highlighting the trust that investors have in its strategic approach and the growing demand for growth equity investments.
Artal Capital has already completed an inaugural investment in FlyAkeed, a Saudi Arabian travel technology startup, and is poised to finalize a second deal in the upcoming quarter.
The company has indicated that it has a solid lineup of prospective investments lined up, which reflects the fund’s strong investment strategy and the optimistic prospects of the sectors it targets.
In its six years of operation, Artal has diversified its portfolio to include public equities, private equity, venture capital, and real estate investments. Its public market investments are channeled through three funds: Artal MENA Fund, Artal Special Situations Fund I, and Special Situations Fund II.