eWTP Arabia Capital is investing in a high-tech future.
eWTP Arabia Capital (Chinese: 易达资本) is close to raising USD 1 billion to invest in tech startups in Asia and the Middle East, Bloomberg reported.
eWTPArabia Capital is a venture capital firm based in Riyadh, Saudi Arabia. Backed by Saudi Arabia's Public Investment Fund (PIF) and Alibaba Group (Chinese: 阿里巴巴集团, HK:09988, NYSE:BABA), it raised USD 400 million in its debut in 2019.
Jerry Li, Managing and Founding Partner of eWTP Arabia Capital confirmed that 16 companies have received its funding, 3 of which intended to go public on the Saudi Stock Exchange and 2 of which are to be listed in the U.S. next year. eWTP Arabia Capital is "working on 20 projects in the fields of technology, logistics, and infrastructure."
eWTP Arabia Capital invested in STAR & SEA Group (Chinese: 辰海集团), a one-stop offshore compliance service platform, Y.O.U, an international beauty brand from HEBE Beauty Group, MAKUKU, a mommy and baby care product provider, etc. eWTP Arabia Capital collaborated with STC Group, Alibaba Group, Saudi Company for Artificial Intelligence and Saudi Information Technology Company in launching Saudi Cloud Computing Company (SCCC) in May 2022.
The Saudi Arabia-China Entrepreneur Association (SCEA) was launched at the LEAP 2023 conference in Riyadh on February 7, 2023. SCEA is a non-profit organization operated by eWTP Arabia Capital and supported by the Saudi Ministry of Communications and Information Technology and the Saudi Federation for Cybersecurity, Programming and Drones.