{"id":17846,"date":"2024-02-09T14:28:19","date_gmt":"2024-02-09T11:28:19","guid":{"rendered":"https:\/\/entarabi.com\/?p=17846"},"modified":"2024-02-09T14:33:26","modified_gmt":"2024-02-09T11:33:26","slug":"pif-and-msa-capital-plan-to-raise-1-billion-to-support-emerging-technology-companies-inmena","status":"publish","type":"post","link":"https:\/\/entarabi.com\/en\/2024\/02\/pif-and-msa-capital-plan-to-raise-1-billion-to-support-emerging-technology-companies-inmena\/","title":{"rendered":"PIF and MSA Capital plan to raise $1 billion to support emerging technology companies inMENA"},"content":{"rendered":"<div class=\"flex-1 overflow-hidden\">\n<div class=\"react-scroll-to-bottom--css-pudgg-79elbk h-full\">\n<div class=\"react-scroll-to-bottom--css-pudgg-1n7m0yu\">\n<div class=\"flex flex-col pb-9 text-sm\">\n<div class=\"w-full text-token-text-primary\" data-testid=\"conversation-turn-5\">\n<div class=\"px-4 py-2 justify-center text-base md:gap-6 m-auto\">\n<div class=\"flex flex-1 text-base mx-auto gap-3 md:px-5 lg:px-1 xl:px-5 md:max-w-3xl lg:max-w-[40rem] xl:max-w-[48rem] group final-completion\">\n<div class=\"flex-shrink-0 flex flex-col relative items-end\">\n<div class=\"pt-0.5\">\n<div class=\"gizmo-shadow-stroke flex h-6 w-6 items-center justify-center overflow-hidden rounded-full\"><\/div>\n<\/div>\n<\/div>\n<div class=\"relative flex w-full flex-col lg:w-[calc(100%-115px)] agent-turn\">\n<div class=\"flex-col gap-1 md:gap-3\">\n<div class=\"flex flex-grow flex-col max-w-full\" style=\"text-align: left;\">\n<div class=\"min-h-[20px] text-message flex flex-col items-start gap-3 whitespace-pre-wrap break-words [.text-message+&amp;]:mt-5 overflow-x-auto\" data-message-author-role=\"assistant\" data-message-id=\"bbc1aa1c-2077-4655-84bd-01ddc0f9d90f\">\n<div class=\"markdown prose w-full break-words dark:prose-invert light\">\n<p>MSA Capital, a Chinese venture capital firm, backed by the Saudi sovereign wealth fund PIF, aims to raise a substantial $1 billion to invest in promising tech startups in the Middle East region.<\/p>\n<p>The tech scene in the Middle East is rapidly advancing, propelled by visionary leaders, strategic investments, and a growing tech-savvy population.<\/p>\n<p>According to a study by UBS, digital economies in the region are expected to grow over fourfold, reaching approximately $780 billion by 2030.<\/p>\n<p>Ben Harburg, Managing Partner at MSA Capital, stated, &#8220;Our goal is to participate in the advanced stages of startup development, providing significant investments in pre-IPO stages, paving the way for subsequent public market listings.<\/p>\n<p>&#8221; Currently managing assets valued at $2.5 billion, the firm is backed by the SoftBank Vision Fund, a part of the Public Investment Fund (PIF).<\/p>\n<p>This initiative comes amidst increased activity in venture capital in the Middle East, particularly in Saudi Arabia, where startups raised a staggering $1.3 billion in funding in 2023 alone.<\/p>\n<p>These trends align with Saudi Vision 2030, aimed at diversifying and reducing reliance on oil in the Saudi economy.<\/p>\n<p>MSA Capital seeks to fill the significant gap in the region&#8217;s investment landscape, where early-stage funding is more abundant compared to later stages.<\/p>\n<p>With substantial capital and Saudi support, the company is poised to play a key role in developing and guiding promising tech projects towards their initial public offerings.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"mt-1 flex justify-start gap-3 empty:hidden\">\n<div class=\"text-gray-400 flex self-end lg:self-center justify-center lg:justify-start mt-0 -ml-1 visible\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>MSA Capital, a Chinese venture capital firm, backed by the Saudi sovereign wealth fund PIF, aims to raise a substantial $1 billion to invest in promising tech startups in the Middle East region.<\/p>\n","protected":false},"author":11,"featured_media":17843,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"post_subtitle":"","footnotes":""},"categories":[1772],"tags":[3296,3295],"class_list":["post-17846","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startups","tag-msa-capital-en","tag-pif"],"_links":{"self":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/17846","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/comments?post=17846"}],"version-history":[{"count":0,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/17846\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media\/17843"}],"wp:attachment":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media?parent=17846"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/categories?post=17846"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/tags?post=17846"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}