Deals
Saudi PIF Pumps More Money Into Alibaba-Backed Tech Venture
- Deal takes PIF unit’s total investment in eWTP to about $200m
- eWTP Arabia’s latest $1 bln funding round to conclude in 2024
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A unit of Saudi Arabia’s Public Investment Fund is pumping further capital into its technology venture with China’s Alibaba Group, taking its total investment into the entity to about $200 million.
Jada Fund of Funds, wholly owned by the Saudi PIF, is one of several regional and Asian funds participating in eWTP Arabia’s upcoming $1 billion funding round that’s set to conclude early next year. The vehicle will focus on investing in technology and energy startups, eWTP Arabia Founder and Managing Partner Jessica Wong said.