Alibaba- and PIF-backed eWTP raising $1b for Asia, MENA investments: report

Alibaba- and PIF-backed eWTP raising $1b for Asia, MENA investments: report

Late evening sunlight is seen reflected off the Kingdom Tower in Riyadh, Saudi Arabia, on Thursday, Dec. 1, 2016. Photographer: Simon Dawson/Bloomberg

eWTP Arabia Capital, a venture capital fund backed by China’s Alibaba Group and Saudi Arabia’s Public Investment Fund (PIF) is reportedly close to raising $1 billion to invest in tech startups in China, India, Southeast Asia, and MENA, Bloomberg reported on Friday.

Edited by: Pramod Mathew

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter