Growth Catalyst
Riyadh-based private equity manager licensed by the Capital Market Authority; its Growth Catalyst Fund I reached a SAR 360 million first close in 2026 against a SAR 750 million target.
Industry: Private equity | Location: Riyadh, Saudi Arabia | Founded: 2025
About Growth Catalyst
Growth Catalyst Investment Company is a Riyadh-based private equity manager that invests in profitable, founder-led mid-market companies in Saudi Arabia. Its founder and chief executive is Turki Al-Dayel, a Saudi investor with about 18 years of experience across private equity, investment banking and institutional investing. The Capital Market Authority approved the firm to manage investments in securities business in April 2025, and the regulator announced in September 2025 that it had completed its commencement-of-business requirements. The firm's flagship vehicle is Growth Catalyst Fund I. In June 2026 the fund announced a first close of SAR 360 million, about USD 96 million, against a target size of SAR 750 million, about USD 200 million. Al-Dayel told Semafor that the regional conflict involving Iran did not significantly affect the raise, and the firm said it aimed to more than double the fund over the following six months before a final close. Semafor described it as one of the first private-sector fundraisings to close in the kingdom since the conflict began. The first close drew government entities, investment institutions, endowments, family offices and individual investors. Saudi Venture Capital, the government-linked fund of funds and a subsidiary of the SME Bank under the National Development Fund, announced its investment in April 2026. Jada Fund of Funds, a subsidiary of the Public Investment Fund, announced a commitment in July 2026, without disclosing the amount. Reports also list Saudi Investment Company among later backers. The strategy targets established, privately held companies that have outgrown venture capital but are too small for the largest buyout houses. Growth Catalyst says it works with management on governance, institutional capabilities and expansion, and on preparing for an IPO, a strategic sale or a transition to institutional ownership. Reports describe the fund as sector-agnostic, with healthcare, education, renewable energy, food and beverage, consumer goods, business services, industrials and technology cited as focus areas. Most of the capital is intended for Saudi Arabia, with a smaller share for the wider GCC. The firm's fund-raising reflects Vision 2030's emphasis on channelling institutional capital to mid-sized private companies, and its backers include public-sector fund-of-funds that have been building the local private equity ecosystem.
Leadership
- Turki Al-Dayel, Founder and chief executive
- Turki Al-Dayel, Founder and chief executive
- Abu Chowdhury, Managing Partner and Chief Investment Officer
- Hossam Y. Radwan, Chairman of the Board
- Shahrukh Hassan, Chief Financial Officer
- Ahmed Badreldin, Investment Committee Observer
- Scott Ross, Investment Committee Observer