{"id":95033,"date":"2025-03-06T00:00:00","date_gmt":"2025-03-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/06\/sidf-and-ashmore-launched-saudis-first-industrial-private-equity-fund\/"},"modified":"2025-03-06T00:00:00","modified_gmt":"2025-03-06T00:00:00","slug":"sidf-and-ashmore-launched-saudis-first-industrial-private-equity-fund","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/06\/sidf-and-ashmore-launched-saudis-first-industrial-private-equity-fund\/","title":{"rendered":"SIDF and Ashmore launched Saudi\u2019s first industrial private equity fund"},"content":{"rendered":"

\n

INVESTMENT WATCH-<\/p>\n

#1- S<\/strong>audi is <\/strong>getting its first private industrial investment fund:<\/strong> The SIDF Investment Company<\/a>(SIC)<\/a> and London-based asset management firm Ashmore<\/a> agreed to set up Saudi Arabia\u2019s first private industrial investment fund, with a target size of SAR 400 mn, SIC CEO Fahad Alnaaem said on LinkedIn<\/a>. <\/p>\n

About SIC<\/strong>: <\/strong>The company was established in November<\/a> by the Industry and Mineral Resources Minister Bandar bin Ibrahim Al Khorayef with an initial capital of SAR 2 bn to promote private investment in energy, mining, and logistics projects.<\/p>\n

#2- <\/strong>Hassana Investment Company<\/a><\/strong> and <\/strong>Warburg Pincus<\/a><\/strong> will work together to explore<\/strong> potential partnerships and investment avenues to boost the Kingdom\u2019s growth<\/strong>, after Saudi Arabia\u2019s USD 320 bn pension fund manager and the New York-headquartered private equity firm signed an MoU, according to a press release<\/a>. The move comes as Warburg plans to expand its footprint in the region, Bloomberg<\/a> said.<\/p>\n

#3- <\/strong>Saudi Venture Capital invested an undisclosed amount in <\/strong>Artal Capital\u2019s<\/a><\/strong> private<\/strong> equity fund<\/strong>, Artal Growth Opportunities Fund, according to a press release<\/a>. The fund provides capital and expertise to help high-growth companies expand, improve governance, and scale operations, with a focus on tech-driven businesses in Saudi Arabia and the GCC. No further information was disclosed.<\/p>\n

\n

ENERGY-<\/p>\n

Umm <\/strong>Al Qura Cement\u2019s Radwan plant will get a new <\/strong>electricity substation<\/strong> under an agreement signed with Saudi Electricity Company\u2019s subsidiary National Electricity Transmission, it said in a disclosure to Tadawul<\/a>. The new station \u2014 to be developed as part of the company\u2019s liquid fuel substitution program \u2014 will boast a 37.5 megavolt-ampere (MVA) load capacity. No timeline or investment ticket was disclosed.<\/p>\n

\n

HEALTHCARE-<\/p>\n

Jeddah <\/strong>gets Alcon\u2019s first eye care training center in MEA:<\/strong> Swiss-based eyecare company Alcon<\/a> opened its first Alcon Experience Center in the Middle East and Africa (MEA) in Jeddah to train eyecare professionals and improve ophthalmic surgery in the region, according to a press release<\/a>. The center will provide hands-on training, mentorship, and access to advanced surgical technologies. As part of the launch, Alcon signed agreements with King Fahd University Hospital, National Guard Hospital, Magrabi Eye Hospitals, and Ohud Hospital to support ophthalmic education.<\/p>\n

\n

INS.-<\/p>\n

Malath Co<\/strong>operative Ins. received an A- credit rating with a stable outlook<\/strong> from SIMAH Rating Agency-Tassnief, it said in a disclosure to Tadawul<\/a>. <\/p>\n

\n

AVIATION-<\/p>\n

US-Ban<\/a><\/strong>gla Airlines<\/a><\/strong> will run direct flights between the Bangladeshi capital Dhaka and<\/strong> Riyadh starting 21 April<\/strong>, with five weekly flights, it said on LinkedIn<\/a>. Flights will be priced at BDT 54.1k for a one-way ticket and BDT 82k for roundtrips.<\/p>\n

REMEMBER-<\/strong> The Saudi General Authority of Civil Aviation gave the Bangladeshi air carrier the green light back in August<\/a> to operate daily flights between Dhaka and Jeddah.<\/p>\n","protected":false},"excerpt":{"rendered":"

PLUS: Hassan Investment partners with Warburg Pincus<\/p>\n","protected":false},"author":1,"featured_media":95034,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2564],"tags":[54,10,1307],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-95033","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-enterpriseam-ksa","tag-umm-al-qura-cement","wpautop","entry"],"acf":{"mongo_id":"2a59b5e6-2077-4e0b-b160-938143e7fa35","order":"11","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/3\/485.jpg","photo_position":"above","homepage_title":"","full_issue_title":"SIDF and Ashmore launched Saudi\u2019s first industrial private equity fund","related_issue":[95013],"teaser":"PLUS: Hassan Investment partners with Warburg Pincus","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/3\/.860e8e89-142a-4d01-b7aa-885db1200a02.mp3"},"yoast_head":"\nSIDF and Ashmore launched Saudi\u2019s first industrial private equity fund - 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