Overview of MENA Tech Venture Funding and the Evolution of Venture Funding in Dubai

By Ashok Raman, 31 July 2023

Funding rounds go around

From 2012 to 2022, there have been over 4,500 funding rounds, of which more than one-third occurred in the UAE, followed by Egypt and Saudi Arabia. Among the rest of MENA countries, Jordan is the only country accounting for more than 5% of the funding rounds.

Infographic: MENA Number of Funding Rounds, by Country, 2012-2022

In terms of capital raised, the last decade has seen US$19.7 billion in funding, by all startups, on a disclosed value basis. The UAE shines once again, accounting for nearly two-thirds of all the ca

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Dubai's Venture Capital Ecosystem

There are 749 scale-ups that have raised over US $1 million in fundraising in the Middle East and North Africa region; collectively raising over US $19.5 billion, cumulatively, as of December 2022. Over 40% of these scale-ups call Dubai home.