eWTP Arabia Capital – Bridging Growth between China and MENA

Asia PE-VC Summit one of the most popular events among the investment and startup communities. The Summit has attracted over 600 attendees from all over the world, who are all eager to explore new trends and sectoral bets in Asia's constantly evolving markets against the pandemic backdrop.

Taking this opportunity, eWTPA has curated its closed-door high-level LP-only fireside chat session, together with Dealstreetasia.

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.

"When we first setup our base in MENA, Saudi Arabia is just opening its gate, as the country looks to transform from 'an oil economy' and to bring in technologies from the other side of the world, including China, where entrepreneurs and companies are seeking to expand globally," said Mr. Jerry Li, Founding and Managing Partner of eWTPA.

Since eWTPA set foot at Saudi Arabia, its main goal is to build a healthy local corporate ecosystem in the country. When the country was first opening up, there was no infrastructure and no transparency. This is why eWTPA saw the gap that could be easily bridged up by bringing in matured Chinese technologies, enterprises and capital. The same apply to matured solutions in Southeast Asia.

"It is truly a golden time to invest in the MENA region," said Mr. Li, who targets to help bridge the two economies with the support of LPs such as Alibaba Group and Saudi Arabia's sovereign wealth fund Public Investment Fund (PIF). "Though regulatory challenge is one of the most difficult barriers for all companies that are looking to enter the MENA market, our expertise support and local knowledge will be able to help corporates build and grow their base in this growing market."

Saudi Arabia is with rapid GDP growth of over 10% annually since the opening up of the country a few years ago. Since it is still a relatively young economy, it would require import of a lot of technologies to help build necessary infrastructure and a mature ecosystem. "Currently, the opportunities are primarily for large-scale corporates with more mature products and solutions, especially those that can benefit local governments and corporate clients," Mr. Li concluded.

eWTPA brought in cloud and other technologies to help strengthen infrastructure locally. The company is also negotiating for free trade zones with the government with an aim to establish a healthy base for further future expansions.

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.