Energy Capital Group (ECG), the Riyadh-based specialist investor, is today launching a $300 million private equity fund focused on supporting Saudi Arabia’s industrial transformation through investments in integrated industrial and mining services that will help to deliver the Kingdom’s Vision 2030 targets.

The ECG – Industrial Metals and Services Fund has already secured approximately $100 million in soft commitments from investors.  ECG is a private equity investor which focusses on energy, industrial, and resource-based sectors with an emphasis on building and scaling businesses that strengthen critical supply chains and support long-term industrial growth.

Saudi Arabia’s Vision 2030 is a blueprint for diversifying the Saudi economy, empowering citizens, creating a vibrant environment for both local and international investors, and establishing the Kingdom as a global leader.  This new fund will support the delivery of the new vision by investing in metals services and supply chains.

Ali Alturki, Managing Partner of ECG, said: “The aim of this fund is to capitalise on Saudi Arabia’s generational mining investment opportunity, supporting the localisation of essential services and driving innovation across industry and downstream processing.
This new fund will support the Kingdom’s ambition by investing in Saudi-based service platforms, positioning metals supply as a reliable, contracted service to the Kingdom’s industrial base

“For this fund we are partnering with Jay Hambro and the Verdigris team who bring broad knowledge of the metals sector and an excellent track record of value delivery.”

Jay Hambro is joining ECG as Managing Partner for the ECG – Industrial Metals and Services Fund, and the team from Verdigris Strategic, a leading metals supply chain services advisory group, will support ECG with sectoral strategic advice.

Said Jay Hambro: “ECG’s new fund’s strategy places it at the forefront of a rapidly evolving sector critical to the energy transition and supply chain resilience. Saudi Arabia has identified $2.5 trillion in untapped mineral resource capability which is being scaled rapidly through licencing rounds, public capital and policy support.  The Kingdom has recently issued over two thousand exploration licences and is targeting a $75bn contribution to its GDP before the end of the decade.

“My team and I have been working with ECG, one of leading industrial services private equity investors in the region, for nearly four years and the fund is a natural evolution in this partnership.”

The fund is being launched at the 2026 Future Minerals Forum, a government-led platform for sharing the future of minerals held at the King Abdulaziz International Conference Center in Riyadh, first held in 2022.

For further information contact:
Jason Nisse 
jason@nisse.uk

About Energy Capital Group

Energy Capital Group (ECG) is a specialized private equity platform focused on energy, industrial, and resource-based sectors. The firm emphasizes building and scaling solutions-oriented businesses that strengthen critical supply chains and support long-term industrial growth. Aligned with Saudi Vision 2030, ECG targets opportunities that create sustainable value through operational improvements, localization, and strategic partnerships. Looking ahead, ECG’s investment strategy expands to high-priority sectors such as metals & mining and, subsequently, specialty chemicals & advanced materials, positioning the firm at the forefront of industrial transformation in Saudi Arabia and beyond.

ECG’s three existing funds – one of which is now fully exited – have produced Multiples of Invested Capital (MoIC) of between 2.3x and 2.6x.

http://www.ecgsaudi.com/

About Verdigris Strategic

Verdigris Strategic is a long-term investor and business transformation specialist. We work internationally across industry, mining, metals, green energy assets and other related industrial businesses to enable successful and sustainable growth. We do this by building partnerships – from investors and stakeholders through to suppliers and communities - shaping resilient companies and delivering real benefits. Our expertise ranges from strategic advice, resource evaluation and investment through to operational delivery, new capabilities and ongoing management.

www.verdigrisstrategic.com