Allen & Overy has advised Investcorp on leading the USD 100 million Pre-IPO round in TruKKer Holding Limited (TruKKer), the largest digital freight network in the MENA region.
This investment was made by the recently-launched Investcorp Saudi Pre-IPO Growth Fund, 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.
TruKKer is a logitech company which connects shippers and carriers via a proprietary cloud-based platform. The company serves over 700 B2B enterprise clients, has a carrier network of over 45,000 trucks inducted on its platform and is expected to achieve revenues of USD200 million in 2022
Middle East Head of Corporate and partner David Foster, who led the Allen & Overy team, commented: “We are delighted to have advised Investcorp on the first investment by its Saudi Pre-IPO Growth Fund. TruKKer is a true “regional champion”; a home grown company using technology and AI to optimise the supply chain and reduce carbon emissions. Investor appetite in the region has seen a monumental rise over the past 12 months, which supports the long-term investment we have made into our Middle East Growth and Venture Capital practice, providing clients with international experts with genuine local expertise and insight.”
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