While Dubai has started receiving later-stage funding, those are still in single digits. What’s encouraging is that growth stage funding, Series A and Series B, has consistently increased through the years, peaking in 2021 at 28 transactions.
Early stage and growth cheques have also been up with average funding increasing at each stage of funding through the years.
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.