Saudi multi-asset investor Artal Capital hits first close of PE fund

Artal Capital, a Riyadh-based multi-asset investment firm, has marked the first close of its mid-market-focused private equity fund to back high-growth, technology-enabled startups in Saudi Arabia and other countries in the Gulf Cooperation Council (GCC) region.   

Artal, which manages assets worth over $600 million, secured commitment from Saudi Arabia’s PIF-backed Jada Fund-of-Funds, among other institutional investors, family offices, and high net-worth individuals, towards the first close of its $133 million target Growth Opportunities Fund.  The first close was also backed by the General Partner’s commitments.   

Artal Capital, formerly Value Partners Company, is an independent investment management firm licensed by the capital market authority (CMA), and deals in five different asset classes such as private equity, public equity, fixed income, money market, and multi-asset management. 

Launched in June last year, Artal Growth Opportunities Fund is the only private equity investment vehicle by Artal Capital. The multi-asset investor aims to deploy the fund in 8-10 tech-enabled mid-sized companies, with an average ticket size of $10-20 million per company. 

“We are thrilled to announce the first close of the Artal Capital Growth Opportunities Fund. This milestone underscores the confidence that investors have placed in our strategy and the need for Growth Equity Investments,” the investor said in a press release. 

Artal Capital has already closed its first investment in FlyAkeed, a Saudi Arabian travel tech startup, and is in the advanced stages of closing a second transaction in the second quarter of the current year. 

“…the fund boasts a healthy pipeline of potential investments, further demonstrating its robust strategy and the promising outlook of the targeted sectors,” said Artal Capital in its press release. 

Artal, a six-year-old multi-asset platform, targets listed stocks, private equity, venture capital, and real estate investments. For tapping the public markets, Artal has three funds- Artal MENA Fund, Artal Special Situations Fund I, and Special Situations Fund II.