Investcorp, a prominent global alternative investment firm, has formalized a strategic alliance with Awaed, Saudi Arabia’s pioneering commission-free trading platform. This partnership reflects Investcorp’s ongoing efforts to expand within the Middle East’s fintech sector and aligns with Saudi Arabia’s Vision 2030 initiative, which aims to diversify the economy by promoting non-oil industries, including financial technology.
The collaboration allows Awaed’s expanding user base to access Investcorp’s recently introduced Saudi Pre-IPO Growth Fund, designed to assist promising Saudi firms in preparing for public offerings. This fund will enable Awaed users to partake in pre-IPO investments, typically available only to high-net-worth and institutional investors, thereby democratizing access to investments for retail investors and offering them a significant opportunity to support emerging companies in Saudi Arabia’s evolving economy.
Launched in 2021, Awaed has quickly gained traction among Saudi nationals for providing affordable investment solutions. This partnership represents a significant move for Investcorp, positioning it among a select few global asset managers to engage in a fintech-focused model in the Kingdom, targeting Saudi Arabia’s youthful and tech-savvy demographic.
Investcorp’s strategy is further bolstered by its recent announcement of a $1 billion platform in collaboration with the China Investment Corporation to enhance cross-border investments in the Gulf region. As regulatory frameworks in Saudi Arabia become more supportive of fintech, this partnership is set to reshape the investment landscape, allowing retail investors to participate more actively in wealth creation through investment in high-growth local enterprises.