Investcorp leads $100mn PRE-IPO round in Trukker

Investcorp, a leading global alternative investment firm, last week announced that Investcorp Saudi PRE-IPO Growth Fund LP led the PRE-IPO round in privately-held Trukker Holding Limited, which is MENA’S largest digital freight network with a leading position across Saudi Arabia, the UAE, Egypt and other neighbouring countries.

Investcorp led the initial close of this round with Us$51mn investment alongside new and existing investors.

Hazem Ben-gacem, Co-chief Executive Officer of Investcorp said, “Saudi Arabia is increasingly rich in highly investible companies, from fast-growth technology businesses like Trukker to long-established family businesses that have grown consistently and are now looking for capital to implement more ambitious expansion plans.

“We are seeing a lot of interest in pre-ipo rounds as scale-ups secure greater market share and more Saudi businesses prove themselves successful on a national and regional basis. Trukker is just one example of the kind of company that we believe will prove attractive to institutional investors as the Saudi ecosystem matures, and our PRE-IPO fund will focus on exactly these kind of high growth businesses.”

Walid Majdalani, head of Private Equity MENA and Southeast Asia at Investcorp said, “We are excited to add Trukker to our portfolio and are keen to work with the founders of this regional champion to explore a possible market listing, as a continuation of our strategy and in line with our track record.”

“Thanks to its proprietary technology, Trukker is ideally positioned to continue its strong growth while reducing carbon emissions across its markets. We look forward to our partnership with Trukker and contributing our strategic and capital markets resources as well as our insights to accelerate growth.”