TLDR: MSA Capital, a China-based investment firm, has signed a memorandum of understanding (MoU) with the Ministry of Investment of Saudi Arabia (MISA) to promote innovation in tech. The partnership will focus on fintech, core technology, robotics, ecommerce, and healthcare. The agreement also aims to attract strategic global investments to Saudi companies and explore cross-border opportunities in the capital markets. Additionally, the MoU includes plans to develop Saudi Arabia’s venture capital ecosystem and potentially establish MSA’s Regional Headquarters in the country.
The MoU between MSA Capital and MISA aims to foster innovation in tech across various sectors, including fintech, core technology, robotics, ecommerce, and healthcare. The agreement was formalized by HE Khalid A. Al Falih, Minister of Investment of Saudi Arabia, and Yazeed Al-Shammari, MSA Partner on the Saudi Innovation Initiative.
The strategic partnership between MSA Capital and MISA seeks to support Saudi companies with global investments, primarily from investors in Asia. It also aims to explore cross-border opportunities in the capital markets.
The MoU also includes plans to develop Saudi Arabia’s venture capital ecosystem, facilitate joint ventures across sectors, and consider the establishment of MSA’s Regional Headquarters in Saudi Arabia.
HE Khalid A. Al Falih, Minister of Investment of Saudi Arabia, expressed his enthusiasm for the collaboration with MSA Capital, highlighting the country’s ambition to become a global investment powerhouse and a leading hub for technological advancements. He emphasized the alliance’s role in catalyzing economic prosperity aligned with Vision 2030’s ambitious goals.
Jenny Zeng, Founder and Managing Partner of MSA Capital, expressed excitement about expanding the firm’s global footprint through the partnership with MISA. She emphasized the unique opportunities presented by Saudi Arabia’s vibrant economy and forward-looking vision, which could benefit MSA’s portfolio companies and contribute to the Kingdom’s innovative ecosystem.
MSA Capital has already made significant investments in the Saudi Arabian market, with three partners based in its Riyadh office. The firm has invested over $45 million in nine companies operating in the Kingdom and has facilitated the entry of 19 global portfolio companies into Saudi Arabia. MSA Capital expects to further expand the number of their portfolio companies operating in Saudi Arabia.
