2024 MENA is 4.3X Its Pre-Pandemic VC Funding Level

Venture capital funding in MENA has seen unprecedented growth, significantly outpacing global trends. While many mature VC markets remain stagnant or below pre-pandemic levels, MENA has emerged as a thriving hub for investment. In 2023 and 2024, the region’s VC funding surged 3.55x and 4.27x, respectively, compared to 2019 levels.

The UAE continues to lead the charge, with its VC funding in 2024 reaching 3.69x higher than in 2019. A key contributor to this growth is the US $1.5 billion deal between Microsoft and G42, which has propelled the country’s funding levels to record highs. This landmark transaction highlights the UAE’s strategic focus on fostering large-scale partnerships and driving innovation in critical sectors such as artificial intelligence and cloud technology.

In stark contrast, global markets such as the United States, Canada, and the United Kingdom have grown only modestly, maintaining funding at or near pre-pandemic levels. Meanwhile, major Asian markets, including China, South Korea, and Japan, are facing notable declines, with funding in 2024 significantly below 2019 levels.

MENA’s exponential growth underscores its emergence as a high-potential and more mature investment ecosystem, fueled by proactive government initiatives, landmark funding deals, and increasing interest in technology-driven sectors. This trend firmly positions MENA as a standout region in the global VC landscape, defying broader economic uncertainties and funding slowdowns.