Dubai PR Network, Online Press Release from Dubai and Middle East
Filter PR by
eWTPA: MENA on the rise with push and pull global economic drivers
SINGAPORE - Media OutReach - 21 September 2022 - eWTP Arabia Capital (eWTPA), a leading Saudi Arabia and China based growth stage venture fund, is aggressively joining the global private equity (PE) universe, upon sensing the strong growth drivers in the region.

Although currently most PE and VC investments still originate from North America, the MENA is rapidly gaining traction. More start-ups and institutional investors and PEs choose to reside in the region. We are also seeing increasing inbound investment and activities from Middle Eastern sovereign wealth funds. Meanwhile, actions of governments and certain characteristics of the region have contributed to this rise.

The strong government supports
MENA-based start-ups attracted over US$1.2 billion in the first half of 2021, representing 64% year-on-year growth, among which 71% was invested in the Saudi Arabia, UAE (mainly through the various financial centre free zones, such as the Dubai International Finance Centre, and the ADGM) and Egypt.

The Saudi Arabia and UAE have implemented fiscal reforms and unleashed large-scale programmes to privatize assets, increase public-private partnerships, unlock value by monetising real assets and infrastructure, improve public benefits and services, develop social and human resources, and optimize government operations.

These initiatives, together with complementary legal and regulatory reforms and social changes, ultimately make these countries more attractive destinations for foreign capital with more diverse, efficient and sustainable economies.

The MENA markets recognize the importance of the venture capital sector to achieve higher economic aims. Government-led initiatives have therefore been a key driver of growth in the venture capital sector in the region, evidenced by the development of start-up ecosystems.

The strong sector supports
Saudi Arabia's Public Investment Fund (PIF) has been supportive of the ecosystem mission. PIF's support of fund managers has also formed a key aspect of its strategy. For the sole purpose of promoting the development of a venture capital ecosystem, two years ago PIF established Jada, a fund of funds company. By funding venture capital funds and private equity focused on the Saudi market, Jada's mandate is to create a self-sustaining growth platform for local SMEs.

On the other hand, PIF's Sanabil Investments commits approximately US$2 billion in capital per annum in private investments that include venture, growth capital and small buyouts.

With this commitment, Sanabil aims to partner with originators of good business ideas: entrepreneurs who harness the innovations of mind and matter to fulfil societal needs in ways that are scalable and sustainable.

eWTP Arabia Capital (eWTPA) has launched its first fund (Fund I) in 2019, 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 MENA region. Currently, 13 out of the 16 portfolio companies are already operating and growing the MENA markets.

The unique MENA offering
Housing 7.5% of the world's total population, the MENA region has a predominantly young population. Of the 600 million people in the region, more than 50% are under 25 years old. This enables a customer base that welcomes disruptive business models and a growing culture of entrepreneurship.

Traditionally, MENA also benefits from its geographical location as a gateway to both Africa and Asia. Given that one-third of the world's population lives within a four-hour flight of Dubai, the region's proximity to Africa and Asia is an attractive attribute for start-ups looking to capitalize on these vast emerging markets.

With the right balance between investment returns and start-up potential, PEs and VCs are more intrigued by regions like MENA, which offers an interesting mix of investment options. We are also seeing another wave of start-ups with Chinese origin expanding into the region for the same reasons. Likewise, Southeast Asian countries which offer similar welcoming and flexible environment also are attractive to investors and entrepreneurs.

Hashtag: #eWTPArabiaCapital

The issuer is solely responsible for the content of this announcement.

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.

eWTP Arabia Capital

Posted by : Media Outreach, Jenny
Viewed 0 times
PR Category : Others
Posted on : Thursday, September 22, 2022  11:00:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of
Email this article Print this article

Share this article with your friends and followers
Back to Media OutReach

Related Stories

Most Viewed Press Release posted in the last 7 days
What a shot! David Beckham Snaps a Scenic View as Qatar Tourism unveils Posts of Qatar [6158-Views]
60 Years of James Bond: OMEGA welcomes Daniel Craig to a London celebration [5896-Views]
Gulf Islamic Investments Launches a $100million Shari'ah Compliant Debt Fund [5539-Views]
More Style, Tech and Comfort – MG's Popular RX5 SUV is Reborn [5129-Views]
Jaeger-Lecoultre Rendez-Vous Sonatina 'Peaceful Nature' Series [4354-Views]
Omantel Tops 5G Utilization in the Middle East Region with 5G for Fixed Wireless Access [4215-Views]
Malabar Gold & Diamonds Launches New Outlet in Abu Dhabi at Dalma Mall [4215-Views]
Best Spots to View Spectacular UAE National Day Fireworks Displays Across Dubai [4198-Views]
Online Subscription Model, MOOV by Al-Futtaim Celebrates One Year of Disrupting Mobility M... [4014-Views]
The Most Valuable Socks in the World by FALKE are Available in Dubai [3985-Views]
Network International, American University of Sharjah Collaborate to Empower Youth Enterin... [3768-Views]
Samsung Sees Significant Adoption of Foldable Smartphones as Enterprise Demand Doubles [3628-Views]
Flying Tiger Copenhagen and Azadea Group to Strengthen their Partnership with the Opening ... [3604-Views]
Theyab Bin Mohamed Witnesses the Signing of a Strategic Partnership between Etihad Rail an... [3415-Views]
Dubai Health Authority Celebrates 51st UAE National Day [3378-Views]
Eight Emiratis join the Dubai Air Navigation Services Corporation [3378-Views]
Cotton On: BODY Opens Its Third Store at Nakheel Mall The Palm [3378-Views]
The Big 5 2022 to Set Global Construction Industry on Dynamic Transformative Trajectory [3370-Views]
Union Coop: Major Discounts Announced for UAE's 51st National Day Celebration [3329-Views]
Dubai will Host the “Lady of the Universe” next March [3075-Views]
Enjoy FIFA World Cup 2022 in Style at Mleiha's Traditional Hospitality Lounges [3059-Views]
Bollywood Actor Anil Kapoor Inaugurates the Brand-new Malabar Gold & Diamonds Outlet at Fu... [2870-Views]
HLB HAMT Launches Employee Volunteering Initiative to Promote Sustainability [2854-Views]
Sultan Bin Tahnoon: The Memory of our Heroic Martyrs will remain in Our Hearts and Minds F... [2849-Views]
GCC Survey: Consumers Willing to Pay more for Sustainability-Minded Companies [2673-Views]
RSS Facebook Twitter LinkedDin on Instagram
Top Sections
Top Stories