Jada Fund of Funds, a subsidiary of Saudi Arabia’s Public Investment Fund, has led an investment in TVM Capital Healthcare’s $250 million fund that will focus on the healthcare industry in the kingdom.

The pool of investors from Saudi Arabia, the GCC and Europe, was led by Jada, PIF's Fund of Funds company, a statement on Tuesday said.

The Afiyah Fund, TVM Capital Healthcare’s second pool of capital in the region, will focus on improving access to world-leading products, technologies, and services in the region.

Other investors in the fund are: Baraya Extended Care, a Riyadh-based chain of long-term, post-acute care and rehabilitation clinics, Amsterdam-based DEBx Medical, and Munich-based  Neurocare Group.

TVM Capital Healthcare is a Dubai and Singapore-based emerging markets-focused healthcare private equity firm.

Jada was established by the PIF with an investment capital of about $1 billion. The fund of funds aims to provide funding to small and medium enterprises in the kingdom via investments in venture capital and private equity funds.

(Reporting by Brinda Darasha; editing by Seban Scaria)