Thursday July 18th, 2024
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Saudi-Based Energy Capital Group Closes First Fund of $150 Million

200 The fund aims to further the industrial development plans of Saudi Arabia as well as the Gulf Cooperation Council.

Startup Scene

Energy Capital Group (ECG), a Saudi-based  investment firm, has closed its first fund of $150 million, which will target the creation of energy leaders in the Kingdom of Saudi Arabia.

The new fund was created through a merger of ECG and Cayan Holdings, with Riyadh-based Watar Partners advising the fund.  Anchored by Jada Fun of Funds, the fundraising effort aims to develop Saudi Arabia’s energy sector and industrial services, with a focus on furthering the industrial growth of Saudi Arabia as well as the Gulf Cooperation Council as a whole.

Founded in 2008 by Ali Al-Turki, ECG has already closed over $5 billion worth of transactions, with significant investments in Saudi Arabia and the MENA region.

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