Bridging East and Middle-East

Bridging East and Middle-East

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  • Chinese venture capital firm MSA Capital, supported by a unit of Saudi Arabia’s Public Investment Fund (PIF), is reportedly aiming to raise $1 billion to fuel technology startups in the Middle East. MSA Capital's Managing Partner, Ben Harburg, shared plans to launch the fund within 2024, with a focus on facilitating larger investments in pre-IPO rounds to pave the way for public offerings. Harburg outlined the strategic approach, emphasizing the intention to participate in later stages of startups' growth and provide substantial funding to bolster their expansion prospects. Discussions are underway with regional investors to advance the initiative, underscoring MSA Capital's commitment to fostering technological innovation and entrepreneurship in the Middle East.
  • With approximately $2.5 billion in assets under management, MSA Capital enjoys support from the Jada Fund of Funds, a division of Saudi Arabia’s sovereign wealth fund. This move aligns with Saudi Arabia’s broader investment strategy, as the kingdom seeks to accelerate progress towards its Vision 2030 objectives, fostering a vibrant ecosystem for startups and innovation-driven enterprises.

Why it matters

According to MAGNiTT data, startups in Saudi Arabia attracted around $1.3 billion in capital in 2023, highlighting the growing interest and potential within the region's startup ecosystem.


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