Saudi Jada Invests in eWTP Arabia Capital's Second Venture
The primary focus of eWTP Arabia Capital’s new fund is technology and energy companies.
Jada, the fund of funds' arm of Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF) has made an undisclosed investment in eWTP Arabia Capital’s second USD fund, according to a press release issued by Jada.[1]
The Riyadh and Beijing-based technology innovation fund is gearing up to raise $1 billion for its upcoming venture, with Jada playing a pivotal role as the cornerstone limited partner (LP).
The primary focus of eWTP Arabia Capital’s new fund is technology and energy companies, in alignment with its overarching strategy.
It also aims to leverage proven technologies, products, and business models from Asia to establish a robust technology ecosystem not only in Saudi Arabia but also across the wider Middle East and North Africa (MENA) region.
Having raised its first US dollar fund in 2020, Jada has made key investments in ventures such as the Saudi Cloud Computing Company, a collaboration between Alibaba Cloud and Saudi STC, and Jitu Middle East.