Founded in 2019, eWTPA launched its first fund (Fund I) in same year, which is backed by the sovereign wealth fund of Saudi Arabia, Public Investment Fund (PIF) and eWTP Capital (Alibaba Group and Ant Finance Group). Within a short period of time, this US$400-million-fund has already invested into 16 companies across of digital infrastructure, core technology and platform, consumer and enterprise services which span enterprise services, cloud services, cyber security, fintech, cross-border supply chain, retail and consumer, e-commerce, logistics and digital entertainment and others, which are to work together and build a unique digital ecosystem in the Middle East and North African (MENA) region.
Among these early-stage investments, the Shenzhen-based Star & Sea Group has recently announced the completion of a multimillion-dollar C1 round of financing, which was led by eWTPA and followed by existing shareholders: Oriental Fuhai and GSR United Capital. This round of financing will be used for technological innovation, product system research and development iteration, and international market expansion.
eWTPA is also one of the investors into Y.O.U, a leading beauty brand in Southeast Asia, which has announced the completion of a US$40 million Series C financing in February this year. The initial success of Y.O.U also leads eWTPA to seek for more future opportunities in the Southeast Asian market.
eWTPA’s vision is very clear: to help effectively build a sustainable digital environment for MENA and facilitate the fast development of digital economy in Saudi Arabia region, echoing its Vision 2030 program that aims to achieve governmental operational excellence, improve economic enablers, and enhance living standards by accelerating the implementation of primary and digital infrastructure, and engaging stakeholders.
According to Mr Jerry Li, Managing and Founding Partner of eWTPA, “We are set to achieve our vision by establishing strategic partnerships with leading Chinese businesses and providing a gateway to establish their presence in the region.”
The company’s core investment strategy is to transfer the latest technologies under a proven business model with successful leadership, quickly filling in the missing gaps in the target markets. As the first and only Chinese-funded PE in Saudi Arabia, eWTPA has been bridging opportunities between China and Saudi Arabia and the MENA with the following unique offerings:
- Connection Ready: Backed by industry gurus with close links to leading global technology companies in Asia, especially in China.
- Knowledge Transfer Ready: To land technologies that represent advanced productivity with Chinese advantages in the MENA region, with enhanced independent R&D capabilities, and autonomy of intellectual property rights.
- Landing Ready: Access to strategic partnerships, policy support, business development and capital market for technology companies to land and grow fast in the markets. 13 out of the 16 portfolio companies, including Alibaba Cloud (“SCCC”) and J&T Express, have already landed and operating in Saudi Arabia.
- Upgrade Ready: Accelerate technology and service offering upgrades with up-scale investment, digitalization, networking, just to name a few.
- Impact Ready: End goal is to create impact on a sustainable and nation-side scale, facilitated by global and regional partnerships.
- Talent Ready: Massive talent grooming and female leadership empowerment programs in the MENA region: one for young entrepreneurs and one only for female leaders.
Moving forward, eWTPA is also looking for partnerships in the wider APAC and Southeast Asia regions to facilitate the growth of digital ecosystem in the MENA region. The company will also be launching a second fund too to cover more grounds and to allow for more partnership to join in this unique force or change.
Hashtag: #eWTPArabiaCapital
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About eWTP Arabia Capital
eWTP Arabia Capital (“eWTPA”) is a growth stage venture fund based in Saudi Arabia and China backed by marquee investors – eWTP Capital and the sovereign wealth fund of Saudi Arabia, Public Investment Fund (PIF). eWTPA is focused on building a local digital ecosystem in MENA by partnering with market leading Chinese businesses and providing a gateway for these companies to establish a strong and sustainable presence in the region. eWTPA takes pride in its ability to offer comprehensive support to its portfolio companies, empowering them to explore and succeed in strategic markets across the MENA region.
Established in 2019, eWTPA is now the preferred partner for Chinese technology giants seeking to enter the MENA region. Through its US$400 million Fund I it has invested in 16 companies in the digital sector, 13 of which have already established themselves successfully in Saudi Arabia. Investments include the hugely successful Saudi Cloud Computing Company (“SCCC”) the kingdom’s leading provider of cloud Services and J&T Logistics, which is now the fastest growing logistics provider in the country.
The fund’s core investment strategy is to transfer the latest technology and proven business models from China and Asia more broadly in order to fill a clear gap in its target MENA market. eWTPA focuses on the sectors of digital infrastructure, core technology and platform, consumer and enterprise services which span enterprise services, cloud services, cyber security, fintech, cross-border supply chain, retail and consumer, e-commerce, logistics and digital entertainment. To eWTPA, success is the ability to drive capital appreciation and to help elevate the digital eco-system in the MENA region.
