Yida Capital

Yida Capital (易达资本) is a technology investment fund headquartered in Riyadh and Beijing, focused on the Middle East and North Africa — per a 暗涌Waves report, it spun out of the eWTP fund and relocated from India and Southeast Asia to the Middle East in 2019, making it a younger player than other Chinese GPs that have taken Middle Eastern money . Its strategy is to port technologies, products, and business models already proven in Asia into building a tech ecosystem in Saudi Arabia and the wider MENA region — as 暗涌Waves put it, unlike peers that treat the Middle East merely as a source of LP capital, Yida is "backed by Asian resources but rooted in the Middle East" . Its first fund was $400 million and had invested in 18 companies, with Jada — the fund-of-funds backed by Saudi Arabia's sovereign wealth fund PIF — as cornerstone investor; as of December 2023 it was raising a second US-dollar fund targeting $1 billion, expected to close in early 2024, again with Jada as cornerstone LP . On the portfolio side, it has backed J&T Express, joining Middle Eastern consortium money in a tens-of-millions injection in 2024 to build out the courier's MENA operations .