MSA Capital, an independent global private equity and venture capital firm, via its emerging markets investment arm MSA Novo and the Ministry of Investment of Saudi Arabia (MISA) have signed a memorandum of understanding (MoU) to bolster economic cooperation and foster innovation in key sectors in Saudi Arabia. 

 

This strategic partnership, formalised by Khalid A Al-Falih, Minister of Investment of Saudi Arabia, and Yazeed Al-Shammari, MSA Partner on its Saudi Innovation Initiative, seeks to establish cooperation and foster innovation sectors such as logistics, financial technology, core technology, healthcare, robotics, and ecommerce. 

 

It also sets out to support Saudi companies in securing strategic global investments, particularly from Asian investors, while 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.

 

Al-Falih expressed his enthusiasm about this collaboration and said: “Our collaboration with MSA Capital underlines our resolve to establish the Kingdom as a global investment powerhouse and a leading hub for technological advancement. MSA has shown significant commitment to the Kingdom for over the last 5 years and we are excited to expand this partnership. 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, echoed these sentiments and said: “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 been an active global institutional investor systematically investing, venture building and establishing JVs in Saudi Arabia over the last 5 years. The firm has three partners based in its Riyadh office and has invested over $45 million into nine companies operating in the kingdom. MSA has facilitated the market entry of 19 global portfolio companies into Saudi Arabia. It has over 250 global portfolio companies and expect to significantly expand the number of them operating in KSA via this MoU.  -TradeArabia News Service