Private
Equity

Merak Capital backs essential, innovation-led businesses across Saudi Arabia and the region.

We invest with discipline, build with operators, and compound value through earnings growth, governance, and scale.

What We Do

Merak Capital backs essential, innovation‑led businesses across Saudi Arabia and the region. Through active ownership and local insight, we unlock potential and build enduring scale.

Investment Scope

Essential B2B and service platforms with technology at the core: business services, healthcare services, compliance and inspection, field services, and workflows enabled by digital infrastructure. Preference for asset light models with recurring or repeat revenue, fragmented sub sectors suited to bolt ons, and clear operational improvement levers.

Strategic Rationale

Non discretionary demand and regulatory alignment support resilient growth. Technology improves utilization and margins. Professionalization of pricing, procurement, KPI cadence, and working capital converts operating gains into durable EBITDA and cash generation.

Geographic Focus

Kingdom of Saudi Arabia as the primary market, supported by local sourcing and relationships. Selective MENA exposure only where it strengthens a Saudi platform or adds defensible capability. Investments seek control or a significant minority with governance rights to execute a defined value creation plan.

Investment Scope

Essential B2B and service platforms with technology at the core: business services, healthcare services, compliance and inspection, field services, and workflows enabled by digital infrastructure. Preference for asset light models with recurring or repeat revenue, fragmented sub sectors suited to bolt ons, and clear operational improvement levers.

Strategic Rationale

Non discretionary demand and regulatory alignment support resilient growth. Technology improves utilization and margins. Professionalization of pricing, procurement, KPI cadence, and working capital converts operating gains into durable EBITDA and cash generation.

Geographic Focus

Kingdom of Saudi Arabia as the primary market, supported by local sourcing and relationships. Selective MENA exposure only where it strengthens a Saudi platform or adds defensible capability. Investments seek control or a significant minority with governance rights to execute a defined value creation plan.

+5

active funds

Strategy
Mix

4 single-asset
1 blind pool

+1 Bn

Private equityAssets under management

Merak Capital backs essential, innovation-led businesses across Saudi Arabia and the region. Through active ownership and local insight, we unlock potential and build enduring scale.

Our Active Funds

Data & AI

Merak Private Equity Fund — D&D
(Master Works)

Master Works is a Riyadh‑based enterprise data and digital transformation company. It delivers data strategy and governance, analytics and AI/ML, API management, RPA, and ships proprietary platforms such as P+ (Digital PMO), S+ (Digital SMO), Baseer and Diwan.

The company serves public and private institutions across the region with offices in Saudi Arabia, Egypt, UAE, Jordan and India.

In 2022, Merak Capital completed a private‑equity investment to support product development and regional scale.

mobility

Merak Private Equity Fund II — (SHIFT inc.)

Founded in 2017 in Jeddah, SHIFT is a tech‑enabled mobility platform offering carsharing, chauffeur, car rental, last‑mile, line‑haul and leasing through an app‑led, omnichannel network.

The company operates nationwide, publicly reporting coverage of 57 cities with a fleet of 12,000+ vehicles.

In 2024, Merak Capital led a growth investment to accelerate technology and network expansion in line with Vision 2030.

HR Cloud (SaaS)

Merak Private Equity Fund III — (JISR)

JISR is a Saudi cloud platform for HR, payroll and spend management, built for compliance with Saudi Labor Law.

The platform is used by 4,500+ businesses and serves 500,000+ employees, processing SAR 10B+ in payroll.

Merak Capital led the company’s US$30m Series A round in 2023 to scale product and go‑to‑market.

Smart Parking & Infra

Merak Private Equity Fund IV — (Arsann)

Arsann provides smart‑parking and mobility‑infrastructure solutions in Saudi Arabia.

Its Parking OS integrates license‑plate recognition, IoT sensors and digital payments to modernize municipal and private parking sites, and the company is expanding into EV‑charging through partnerships such as Electromin.

In 2025, Merak Capital announced a SAR 100m strategic investment to scale Arsann’s data‑driven urban‑mobility platform.

Our Key Pillars

Sector Discipline

We back essential, tech-enabled services where cash flow growth is driven by clear demand, operating efficiency, and regulatory alignment in Saudi Arabia and the wider region.

Active Ownership

Operators and functional specialists work side-by-side with management to improve pricing, utilization, sales motion, and working capital. translating to durable EBITDA and cash conversion.

Aligned Structures

Every deal is designed for downside protection and upside participation, using prudent leverage, governance rights, and value-creation plans tied to measurable milestones.

"Private equity at Merak is a commitment to active ownership with a supportive mindset. We partner with management teams in growth‑oriented to refine expansion strategies, institutionalize governance, and use technology as a driver of efficiency and growth, so that value creation is both measurable and sustainable."

Othman Alhokail

Founder & Managing Partner