Venture Capital in Kingdom Grows by 72% in 2022 with Record Total of around USD1 Billion

By Saudi Press Agency, 12 January 2023
Venture Capital in Kingdom Grows by 72% in 2022 with Record Total of around USD1 Billion

Riyadh, January 12, 2023 -- The venture capital report in the Kingdom of Saudi Arabia revealed that 2022 saw a record investment of SAR 3.701 billion ($987 million) in Saudi startups, recording a growth of 72% compared to 2021.
The report, issued yesterday by MAGNiTT, which is a platform specialized in venture capital data in startups, supported by Saudi Venture Capital Company (SVC), confirmed that although 2021 was a record year for venture capital in the Kingdom, 2022 saw unprecedented growth, where the value of venture capital in the Kingdom registered a new record.

The Kingdom of Saudi Arabia achieved the highest growth rate of venture capital in 2022 compared to other countries in the Middle East an

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