Growth Catalyst Fund I
Riyadh-managed private equity fund investing in profitable, founder-led Saudi mid-market companies; it reached a SAR 360 million first close in June 2026 against a SAR 750 million target.
Industry: Private equity fund | Location: Riyadh, Saudi Arabia
About Growth Catalyst Fund I
Growth Catalyst Fund I is a Saudi private equity fund managed by Growth Catalyst Investment Company, a Riyadh firm licensed by the Capital Market Authority (CMA). It invests in profitable, founder-led Saudi mid-market businesses at a point of scale, allocating about 85 percent of capital to Saudi Arabia and 15 percent to the wider Gulf, according to the manager's website. Its target size is 750 million riyals, about 200 million dollars.
The manager is a closed joint stock company with paid-up capital of 13,125,000 riyals and a stated incorporation date of 9 April 2025. The CMA approved it to manage investments on that date and announced on 18 September 2025 that it had completed its commencement-of-business requirements. Turki Al-Dayel is founder and chief executive, Abu Chowdhury managing partner and chief investment officer, Hossam Y. Radwan chairman and Shahrukh Hassan chief financial officer.
The website describes a concentrated portfolio with no single exposure above 20 percent of invested capital and at least one manager representative on each portfolio company's board. Sectors named are industrials, healthcare, food and agriculture, education, renewables, consumer and entertainment, and technology; press reports list different subsets. The manager expects exits through a listing, a strategic sale or an institutional ownership transition.
Saudi Venture Capital, a subsidiary of SME Bank within the National Development Fund, announced a cornerstone investment on 20 April 2026, amount undisclosed. On 14 June 2026 Sharikat Mubasher reported a first close of 360 million riyals in commitments from government entities, investment institutions, endowments, family offices and individuals; Semafor put this at 96 million dollars. Jada Fund of Funds announced an anchor commitment on 28 July 2026, and SIDF Investment Company announced a strategic investment on 17 August 2026. Neither disclosed an amount.
Semafor reported on 12 June 2026 that Al-Dayel aimed to more than double the fund's size over about six months before a final close. No second or final close had been reported by 22 October 2026, and the pages read name no portfolio companies.
Leadership
- Turki Al-Dayel, Founder and Chief Executive Officer
- 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