ewpartners invests $50 million in Lenovo's supply chain unit to boost Saudi localization

Riyadh, Saudi Arabia: ewpartners (formerly eWTP Arabia Capital), the first international investment firm to establish a Saudi-Asia cross-border platform, has announced a $50 million investment in Leshines, the supply chain solutions arm of Chinese multinational tech company Lenovo, at the Future Investment Initiative (FII). FII is a premier global platform that drives transformative investments and fosters international partnerships for sustainable economic growth.

The investment accelerates the localization of Leshines’ capabilities in Saudi Arabia, strengthening the Kingdom’s role as a vital player in sustainable global trade networks and supply chain operations.

Five months ago, Lenovo and PIF-backed Alat announced a strategic collaboration, including a proposed $2 billion investment. Today, this partnership is set to advance to the next step.

Leshines is also exploring entry into the KSA-Sino Logistics Special Economic Zone at King Salman International Airport in Riyadh, an initiative announced by the Saudi Ministry of Transport and Logistics earlier this month. Managed by ewpartners, the Zone will cover 4 square kilometers and feature a logistics industrial park, an international commercial and business park, as well as residential and facility space. It will enable international companies to manufacture locally in Saudi Arabia and distribute to global markets. The Zone is expected to attract over 3,000 wholesalers and retailers and approximately 200 light industrial manufacturers from China and Asia.

Jerry Li, Founder and Managing Partner at ewpartners, remarked on the announcement: "This investment is a significant step toward building the future of Saudi Arabia that we all envision, and we are actively working to achieve this goal. Our investment in Leshines underscores our commitment to this project and our determination to foster local industrial growth and the development of Saudi enterprises. By partnering with Leshines to bring advanced supply chain solutions to Saudi Arabia and the MENA markets, we further assist Chinese companies in exploring localized production and empower local enterprises, aligning with the Kingdom’s Vision 2030."

Alan Zhou, COO of Leshines, commented: "As Lenovo's smart supply chain solution platform, Leshines will take this opportunity to establish roots in Saudi Arabia, focusing on the MENA region, and build the foundational strategic capabilities of an advanced digital supply chain. ewpartners' strategic resources and unique advantages in KSA, the Middle East, and emerging markets perfectly match Leshines' strategic vision and development roadmap. With solid support and a strong partnership with ewpartners, we are confident that Saudi Arabia will become an important node in the Smart Supply Chain Platform, contributing to the Kingdom's Vision 2030."

The investment in Leshines marks the first transaction for ewpartners Fund II. Amid growing synergy between China and the Middle East, ewpartners' investment model has garnered recognition from key stakeholders in the region. Supported by Saudi Arabia's sovereign wealth fund, ewpartners has also recently secured commitments from other GCC sovereign wealth funds, including $150 million from the Oman Investment Authority.