Government-backed investment firm Saudi Venture Capital (SVC) has announced a significant investment in the latest growth fund of Aliph Capital, the first female-founded private equity firm in the Middle East.
The vehicle, Aliph Fund I, is a $250-million PE fund that looks to invest in mid-sized companies in Saudi Arabia and the Gulf Cooperation Council (GCC).
SVC’s investment follows a $125-million investment by Abu Dhabi sovereign wealth fund ADQ in Aliph Capital in 2022 and a major investment from PIF company Jada Fund of Funds last year.
The PE firm was established in 2021 by Huda Al-Lawati. It aims to provide growth capital to companies across the GCC. Al-Lawati said SVC’s investment comes as GCC’s SMEs now offer opportunities to create investor value and drive economic growth.
SVC CEO and board member Dr. Nabeel Koshak said the investment in Aliph Capital’s PE fund is part of the firm’s Investments in Funds Program, which is aligned with SVC’s strategy to support funds that invest in Saudi-based SMEs with growth potential.
SVC was established in 2018 as a subsidiary of the SME Bank, one of the development banks of the Saudi Arabia National Development Fund.
The investment company makes both direct investments and commitments to private capital funds with its $2.2-billion AUM, according to its website.
Aliph Capital buys stake in Sanipex
In a separate announcement, Aliph Capital said it had taken a 25% stake for an undisclosed amount in Sanipex Group, a lifestyle product supplier in Abu Dhabi.
Sanipex supplies bathroom, kitchen, surface, lighting, and outdoor products to retail, corporate, and trade customers across the GCC. It is known for its homegrown bathroom brand BAGNODESIGN.
Aliph’s investment will see its founder & CEO, Al-Lawati, and managing director, Gaurav Wadhwa, join the Sanipex Group board, per the announcement.
The investment aligns with the strategy to invest in high-growth businesses in attractive sectors, Aliph Capital said.
