Bahrain’s venture capital firm Al Waha has invested an undisclosed sum in Beijing-based MSA Capital, via its fund of funds vehicle.
It is the first time that Al Waha has invested in a Chinese fund and is a continuation of its policy to attract further venture capital investment in the Mena region by providing market access to international investment companies.
At the same time, MSA Capital says the deal fulfils its plan to use Bahrain as its “hub for regional expansion”. It has made 10 investments in the GCC region in the last 12 months and has also looked to develop exchanges for Bahraini and Chinese students and investors.
“We believe the Gulf is at an inflection point due to an influx of seasoned talent, capital, and technology adoption,” said Ben Harburg, managing partner of MSA Capital. “Chinese pioneered mobile-focused business models, both for enterprise and consumers, are best positioned to provide a roadmap for entrepreneurs in the region.”
“Both China and Bahrain offer a substantial pool of tech talent, startup capital and digitally minded consumers, so the scope for further building this relationship is substantial,” added Areije Al Shakar, fund director at Al Waha Fund of Funds.
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