PIF-backed eWTP Arabia Capital anchors MENA’s business via new rebrand

Riyadh – Mubasher: eWTP Arabia Capital, backed by the Saudi Public Investment Fund (PIF), has rebranded as ewpartners, according to a press release.

eWTP Arabia Capital, the first international private equity firm to establish an Asia-Saudi cross-border investment platform, was launched in Riyadh in 2017.

Meanwhile, ewpartners has raised and fully deployed $400 million for its Fund I and is targeting $1 billion for Fund II as a result of strong investor interest.

It is worth highlighting that ewpartners has 18 portfolio investments and created over 6,500 jobs for a Saudi workforce.

By establishing and maintaining the Kingdom’s position at the forefront of technological excellence, ewpartners have contributed to bolstering the Saudi economy.

The rebranding symbolises a broadening out of its initial focus to include investments into the wider region.   

Jessica Wong, Founder and Managing Partner of ewpartners, said: “Thanks to ongoing support from our investors we have been able to facilitate the transfer of knowledge and opportunity between Asia and Saudi - the sharing between East and West - and make significant strides in fostering economic growth in the Kingdom through strategic investments across a range of industries.”

“We have already identified a pipeline of opportunities and we look forward to acting on that as we contribute towards the region’s vision of connectivity, growth, and global prominence,” Wong added.

Talal Albakr, CEO of Saudi Cloud Computing Company (SCCC), commented: “Together with industry leaders like stc Group, Alibaba Cloud, SCAI, and SITE, SCCC has been able to advance our mission of providing secure and innovative cloud computing solutions. We look forward to continuing our collaboration to support Saudi Arabia’s economic diversification and digital transformation.” 

Source: Mubasher Source: {{details.article.source}}