Dubai, UAE: eWTP Arabia Capital, a leading Saudi Arabia and China based growth stage venture fund, is co-sponsor of SuperReturn Middle East, the leading private equity event serving the Middle East region, held in Dubai from 01st to 02nd November 2022. At the event, senior leadership of eWTP Arabia will also be speaking at fireside chats and panel discussions, bringing to the fore eWTPA’s experience in bridging the innovation and funding transfers between China and the Middle East.
eWTPA is optimistic about the potential of the region, with strong growth indicators driving inbound investment. MENA-based start-ups attracted over US$1.2 billion in the first half of 2021, representing 64 per cent year-on-year growth. Of this 71 per cent was invested in the Saudi Arabia, UAE (mainly through DIFC and ADGM), and Egypt. The innovation and investment bridge that eWTPA has built between Asia and the MENA region is timely as regional markets attract global attention and unlock new forms and waves of interest and investment.
Jerry Li, Managing Partner, eWTP Arabia Capital, engaged in a fireside chat entitled ‘Investing in ‘Chinarabia’’ with Enrique Cuan, Managing Partner and Co-Founder, Mercury Capital Advisors. The discussion centred around Chinese technology, proven business models, technologies, applications, and products that can offer competitive advantages in a new region as well. With diminishing domestic growth in China, enterprises that sought to expand internationally were still slow to consider the MENA market. With eWTPA’s efforts and guidance, there is renewed interest in the region, and a growing awareness of the huge potential presented in a region with strong purchasing power, abundant capital, and preferential policies.
“There can be no doubt that digitalization and smart technology will shape our future economy. At eWTPA, we strive to utilize Chinese capabilities and technologies to realise the value and potential of a local digital ecosystem. Introduction of leading technologies from abroad enhances regional technology capabilities, and aids in the improvement of the local entrepreneur ecosystem”, Jerry Li said
He added, “We have a strong track-record of successful investments in sectors such as cloud services, fintech, mobile entertainment, gaming, cybersecurity, internet communications, healthcare, edtech, e-commerce, and logistics, and more. With our origin from Alibaba, eWTPA serves as a platform, and has facilitated 100+ Chinese tech giants to enter the MENA region through a considered Private Equity or buyout strategy”.
Jessica Wong, Managing Partner, eWTP Arabia Capital, was on a panel discussion titled ‘Where are the Exits?’ alongside industry peers from organisations such as Emerging Investment Partners, AlMal Investment Company, Gulf Islamic Investments, moderated by Melissa Guzy, Managing Partner and Founder, Arbor Ventures.
Jessica Wong said: “When it comes to exits, there is nothing more rewarding than the investment going public, and we have seen a marked increase in preference to list on Saudi Arabia’s Tadawul. Out of our portfolio companies, four from neutral host business, cloud communication, and mobile gaming sectors have already start the process towards IPO on Tadawul, with more exploring this route. What we like to call ‘Chinarabia’ is in reality now developing to be a strong opportunity for innovators and investors, and we are truly in the right place at the right time.”
eWTP Arabia Capital has operated from Saudi Arabia for almost four years, and has been at the forefront of major technology-driven transitions in the region. Digital transformation is regarded as vitally important for the success of Saudi Arabia’s Vision 2030, and Chinese technology companies are uniquely suited to drive the next wave of high-tech projects.
Through its US$400 million Fund I, eWTPA 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.