Latham Advises Jadwa in US$50 Million PetroApp Investment Through Its Flagship Blind-pool Vehicle, Jadwa GCC Diversified Private Equity Fund

Latham & Watkins has advised Jadwa Investment, a leading investment management and advisory firm in the Middle East, as the lead investor in the US$50 million investment round in PetroApp, Saudi Arabia’s leading fuel management platform.

PetroApp is Saudi Arabia’s first independent provider of digital fuel payment and fleet management solutions. It is transforming vehicle operations by eliminating cash transactions, reducing fraud, and improving cost control for corporate and government fleets.

This transaction marks Jadwa’s fifth investment under its flagship blind-pool vehicle, Jadwa GCC Diversified Private Equity Fund, launched in late 2024. It follows the fund’s recent landmark acquisition of a majority stake in Makhazen Alenaya, a market leader in Saudi Arabia’s beauty and personal care retail sector, which Latham also advised on.

The Latham team was led by Riyadh partner Ahmed el-Gaili, with associates Ahmed El Banna and Bshayer Binyamin.