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Investcorp leads $100m pre-IPO round

Investcorp CEO Hazem Ben Gacem 008

Arabian Post Staff

Alternative investment firm Investcorp announced that Investcorp Saudi Pre-IPO Growth Fund LP led the Pre-IPO round in privately-held TruKKer Holding Limited, MENA’s largest digital freight network with a leading position across Saudi Arabia, the United Arab Emirates, Egypt and neighbouring countries. Investcorp led the initial close of this round with $51 million investment alongside new and existing investors.

This investment is part of the recently launched Investcorp Saudi Pre-IPO Growth Fund LP, targeting equity growth capital investments across a range of companies primarily based in Saudi Arabia with the potential to access the capital markets within 3 years. The fund provides investors with an opportunity to gain exposure to growing and market-leading businesses in strategic, high growth and underserved sub-sectors such as business services, transport and logistics, healthcare and consumer.

The United Arab Emirates and Saudi Arabia are key markets for TruKKer and represent a significant portion of the company’s revenues. The United Arab Emirates market has witnessed strong growth over the years in large part due to the development of UAE – KSA cross border lanes with over 30,000 annual shipments transported by TruKKer, a key value proposition as the company continues to focus on scaling its network and looking to gain market share.

In 2008, Investcorp established a dedicated presence in Saudi Arabia, and TruKKer marks Investcorp’s eighth investment in the country, with multiple successful public listings.

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