Investcorp, a Bahrain-based alternative investment management firm, said on Wednesday that its Saudi Arabia-based fund led a funding round for a digital freight network with an investment of $51 million.

Investcorp Saudi Pre-IPO Growth Fund LP led the pre-IPO round in TruKKer Holding Limited, a MENA-based logistics start-up, which along with other new and existing investors like Abu Dhabi wealth fund Mubadala Investment Co., raised $100 million.

The investment is part of the recently launched Investcorp Saudi Pre-IPO Growth Fund LP, which is targeting equity growth capital investments across a range of companies primarily based in Saudi Arabia with the potential to access the capital markets within three years, Investcorp said in a statement.

(Writing by Brinda Darasha; editing by Cleofe Maceda)