Mad’a invests in Family Souk Ventures and

From right: Kirsten Fairfield, Chief Mum,; Abdullah Alothaim, CEO, Mad'a Investment Company and Scott Hupe, Chief Operating Officer, Family Souk Ventures, Ltd

RIYADH — Mad’a Investment Company, a private equity & venture capital firm headquartered in Riyadh, Saudi Arabia, a wholly- owned subsidiary of Abdul Aziz Al Othaim & Sons Holding Company (ASO&SONS), has announced a new investment in Dubai-based Family Souk Ventures, Ltd. and its online retail subsidiary

Family Souk Ventures is a B2B distribution company representing a select group of best-in-class brands in the parenting industry, while also operating, a market-leading baby, child and parenting e-commerce website showcasing over 5,000 curated products and services available to parent-consumers in the Middle East and North Africa.

The investment will significantly scale the growth trajectory of the two companies and accelerate their regional expansion. It will be used to rapidly and aggressively expand B2B and B2C channels, increase customer acquisition investments in new markets, obtain additional exclusive brand partnerships, enhance customer delivery networks and systems, execute highly accretive acquisitions, and augment and expand innovative shopping technologies for its customers.

Commenting on the investment, Abdullah A. Al Othaim, CEO of Mad’a, said: “As part of our commitment to creating exceptional value for SME’s in the Kingdom and in the region, improving business practices, adding jobs, and contributing to the economy, we made this strategic investment to enable Family Souk Ventures to aggressively expand its business to the largest market in the GCC, the Kingdom of Saudi Arabia, and eventually all of MENA”.

Al Othaim stressed that Mad’a’s investment strategy is aligned with Saudi Vision 2030, as it seeks to create jobs, promote innovation, support SME’s, and contribute to the diversification of the local economy.

Scott Hupe, Chief Executive Officer of Family Souk Ventures, said he was ”delighted to have Mad’a Investment and ASO&SONS as a strategic partner, who will help the company reach its full potential and enable more consumers in the Kingdom and wider MENA region to access unique and exclusive parenting and baby-care products and services.”

As principle to its investment strategy, Mad’a is inspired by Saudi Arabia’s Vision 2030. The company works to build partnerships with national companies, attract know-how to the local market, and play an active role in creating jobs and advancing localization. — SG