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eWTP Arabia Capital's Tech Fund Soars in VC Rankings, Spurring MENA's Digital Rise


Benjamin Hughes

May 19, 2024 - 10:13 am


eWTP Arabia Capital Technology Fund I Celebrates Remarkable Achievement in the Venture Capital Arena

RIYADH, Saudi Arabia, May 19, 2024 – The regional business community heralded a momentous achievement today as eWTP Arabia Capital Technology Fund I, directed by eWTP Arabia Capital (eWTPA), proudly stands among the peak ventures in private equity within the Middle East. eWTPA's eminent Technology Fund I secured a spot as the fifth top-performing VC fund in the US$250 Million to US$499 Million category. The Preqin League Tables recognized the fund for its stellar net Internal Rate of Return (IRR), for vintages dating from the years 2015 through 2020.

eWTP Arabia Capital's Technology Fund I ranked as an exceptional VC Fund in the Preqin League Tables

"We're delighted by the recognition of our Technology Fund I as a top-performing VC fund in our sector," expressed Jessica Wong, Founder and Managing Partner of eWTPA. Her words radiate pride in the significant milestone, underscoring the team's dedication and exemplifying their robust investment strategy. Moreover, Wong highlighted the tremendous growth potential within the Middle East and North Africa, pinpointing Saudi Arabia as a region meriting considerable attention for their advancements in technology. eWTPA, at the forefront of this regional tech progression, remains steadfast in its mission to empower local entrepreneurs and generate substantial value for its investors.

Jerry Li, also a Founder and Managing Partner of eWTPA, conveyed equal enthusiasm, attributing the prestige to their hard work in nurturing Saudi's burgeoning digital ecosystem. "Being recognized by Preqin validates our hard work and dedication to supporting and actively contributing towards building the Saudi digital ecosystem," said Li. As eWTPA continues to blossom, the firm holds steadfast to the goal of innovation and positive market evolution throughout Saudi, the entire GCC, and even within global emerging markets.

eWTPA's industry footprint is indelible, setting forth new benchmarks and solidifying its status among the paramount in the sector. This recognition by Preqin is a testament to eWTPA's perspicacity in identifying lucrative market opportunities and mastering high yield returns for its investors.

Preqin, the alternative assets industry's leading data provider, curates the League Tables, a reputable and authoritative benchmark for private equity and venture capital performance. These rankings rely upon various metrics like the net IRR among other pivotal indicators, positioning eWTPA at the apex of investment strategies.

The firm's strategic orientation towards growth sectors in the MENA region has spelt success, reflected by the sheer breadth of their portfolio which boasts a slew of companies on the cusp of transforming their respective industries. eWTPA's Technology Fund I has been instrumental as a conduit of Asia and Middle East synergy, making waves in the industry since its initiation in 2019. With over 18 companies in its embrace, several have already rooted firmly in the Kingdom of Saudi Arabia (KSA), including J&T Express, Raha, Sahm, and COFE.

About eWTPA: Founded in the year 2019, eWTP Arabia Capital is a trailblazer investment firm based in the colossal regional hubs of Saudi Arabia and China. Bolstered by backing from prominent regional and international Sovereign Wealth Funds, Institutional investors, and family offices, the firm has made it their vocation to erect robust local digital ecosystems in the MENA terrain. In doing so, eWTPA partners with dominant international businesses, providing a durable gateway into the regional market, hence allowing these companies to consolidate their sustainable presence. Cumulatively, the firm's investments extend to over 18 companies, with 13 successfully established in the Kingdom of Saudi Arabia.

Media Contact: Communications from eWTPA are managed by Haile Liao. For more information or inquiries, Haile can be reached directly at +966 0530868568, or via email at [email protected]

For a visual insight into the grandeur of eWTPA's achievements and the declaration of their success in the Preqin League Tables, the following photo is available for direct access and viewing pleasure: eWTP Arabia Capital's Technology Fund I Recognized as Top-Performing VC Fund

Source: eWTP Arabia Capital

Embracing the Drive for Technological Prowess in MENA

The acknowledgement of eWTPA's Technology Fund I by Preqin is a case in point of how strategic venture investments can yield exceptional results. As a front-runner in the MENA region's high-tech investment scene, eWTPA has harnessed the potential of high-growth sectors and laid the groundwork for what is now being recognized as premier venture capital fund performance.

Such success stories underscore the dynamism of the capital investment landscape in MENA, proving the viability of the region as a fertile ground for technological innovation and entrepreneurship. The emergence of successful enterprises within the fund's portfolio, such as the logistics giant J&T Express, the pioneering health platform Raha, financial tech innovator Sahm, and the coffee industry disruptor COFE, manifests the strategic direction and due diligence driving eWTPA's investment philosophy.

Investment Firm's Success Marks a New Era for the Region

The MENA region is well poised to embrace the digital transformation, and firms like eWTPA are the linchpins in this transition, fostering environments conducive to digital entrepreneurship. eWTPA's keen eye for potential and unwavering support for innovative projects has paved the way for many of its portfolio companies to not only enter but also thrive within the Saudi market.

The synergy between eWTPA's strategic investments and the burgeoning digital landscape of Saudi Arabia is more than serendipitous. It is reflective of deliberate policy moves by regional governments to diversify away from traditional industries such as oil and invest heavily in technology and infrastructure. The Saudi Vision 2030, for instance, is a testament to the Kingdom's commitment to fostering a knowledge-based economy, and success stories like that of eWTP Arabia's Technology Fund I are reflective of this overarching strategy.

A Glimpse Into the Future of Venture Capital

With each accomplishment, eWTPA cements its role as an innovator and a believer in the transformative power of technology. Today, as we celebrate Technology Fund I's success, it's evident that the Middle East is not just a market of tomorrow but a dynamic and active player in today's high-tech landscape.

Companies under eWTPA's mantle have not only grown in operational capacity but also in their ability to contribute to the local economies, bringing new jobs, enhanced services, and increased technological literacy to the forefront of regional progress. This is congruent with eWTPA’s ethos of engendering lasting impact through investment.

As the landscape of venture capital continues to evolve globally, achievements such as this latest from eWTPA are indicative of the accelerated pace at which emerging markets are shaping the future of the industry. By continually fostering innovative companies that can offer unique solutions to regional challenges, eWTPA has aligned itself with the trends that will lead the advance in the digital era.

The Legacy of eWTP Arabia Capital's Vision

The story of eWTP Arabia Capital's Technology Fund I mirrors the ambitions of visionary entrepreneurs and investors alike. It is a narrative of foresight, adaptability, and resilience. It is also a narrative that is still unfolding, as the firm looks to the horizon for new opportunities and remains committed to being a cornerstone in the technological ascent of the MENA region.

As the company looks ahead, it does so with the confidence bestowed upon them by the Preqin League Tables—an endorsement that not only celebrates past successes but also shines a light on the promise of future achievements. For investors, entrepreneurs, and consumers alike, eWTPA's journey is one to watch, as it holds the blueprint for the continued rise of the Tech industry in the Middle East, showcasing what can be accomplished with conviction, strategy, and a dedication to excellence.

In conclusion, the recognition of eWTPA's Technology Fund I is not an isolated event but a harbinger of the robust growth and promising future of venture capital in the Middle East. As the regional and global focus on technology and innovation intensifies, stories like these will likely become more commonplace, painting a bright future for investors and innovators who are eager to tap into the vast potential of the MENA region.