Venture Capital Firm MSA Capital is raising $ 1 billion for MENA start-ups.
- MSA Capital in collaboration with Saudi Arabia’s Public Investment Fund, plans to release USD 1 Billion in funds to start-ups in the Middle East in 2024.
- The company manages over USD 2 Billion in assets and funds as of right now.
- Vision2030 is one of the major reasons why the funds are being released due to Saudi Arabia trying to enrich its start-up scene.
MSA Capital, a Chinese VC firm that is backed by Saudi Arabia’s PIF (public investment fund) offers opportunities for technology start-ups in the Middle East by pledging $ 1 billion in financial investment.
The company, which was founded in 2014, manages over $ 2 billion and invests in companies in the biotech, enterprise-facing core technology and consumer sectors.
MSA Capital has had multiple high-end deals with Venture Capital round sizes exceeding the tens of millions, including but not limited to:
- Tabby, a fintech company based in Dubai that offers flexible payment options, with a round size of $50M.
- Cullgen, a biotechnology and pharmaceutical company based in Ohio, United States with a round size of $50M.
- Sary, a B2B e-commerce platform connecting small businesses with manufacturers and lenders, based in Saudi Arabia it had a round size of $30M.
MSA Capital’s Managing Partner, Ben Harburg, has revealed that the company plans to launch a new fund in the year 2024. He further added that MSA Capital is currently in discussions with potential investors in the region to move forward with the plan to release the funds.
Saudi Arabia’s sovereign wealth fund has been investing in several start-ups as part of its efforts to achieve the goals of Vision 2030. Start-ups in the Kingdom secured $1.3 billion in Venture Capital funding in 2023, dominating the fundraising space.
Vision2030 is Saudi Arabia’s plan to diversify the Kingdom’s economy away from petroleum and the oil sector and open other areas of income to prepare for a future where businesses can have a supportive environment of all sizes.
