Investcorp leads $130m pre-IPO funding for Saudi startup

Salla, a Saudi e-commerce software startup, has raised $130 million in its pre-IPO investment round, led by Bahrain’s alternative asset manager Investcorp.

Sanabil Investment, a subsidiary of Public Investment Fund and STV, a venture capital investor and an existing Salla shareholder, also participated in the transaction, Investcorp said in a statement.

Bahrain-headquartered Investcorp made the investment through its Saudi pre-IPO growth fund. As part of the deal, Robin Mansour, principal at Investcorp, will join the board of the Saudi startup.