China’s MSA Capital through MSA Novo, its emerging markets investment arm and the Ministry of Investment of Saudi Arabia (MISA), have signed a memorandum of understanding (MoU).
The partnership aims to bolster innovation across financial technology, core technology, robotics, ecommerce, and healthcare, and was formalised by HE Khalid A. Al Falih, Minister of Investment of Saudi Arabia, and Yazeed Al-Shammari, MSA Partner on the Saudi Innovation Initiative.
This strategic partnership aims to support Saudi companies with strategic global investments, primarily from Asian investors, while also exploring cross-border opportunities in the capital markets. The MoU also includes the development of Saudi Arabia’s venture capital ecosystem, facilitating joint ventures across sectors, and evaluating the establishment of MSA’s Regional Headquarters in Saudi Arabia.
HE Al-Falih stated in a press note: “Our collaboration with MSA Capital underlines our resolve to establish the Kingdom as a global investment powerhouse and a leading hub for technological advancement.”
He added in the note, “We are committed to leveraging this alliance to catalyse significant strides in the KSA’s fintech and tech sectors, paving the way for a new era of economic prosperity aligned with Vision 2030’s ambitious objectives.”
Jenny Zeng, Founder and Managing Partner of MSA Capital, stated in the press note: “Our engagement with MISA is a critical step in expanding MSA Capital’s global footprint, especially as Saudi Arabia’s vibrant economy and forward-looking vision present unique opportunities for our portfolio companies. We are thrilled to explore these new horizons and contribute to the Kingdom’s innovative ecosystem.”
MSA has three partners based in its Riyadh office and has invested over $45 million into 9 companies operating in the Kingdom. MSA have facilitated the market entry of 19 global portfolio companies into Saudi Arabia. The firm has over 250 global portfolio companies and expect to significantly expand the number of them operating in KSA.
