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Investment Rounds for H1 2023 in MENA
Though the rankings in terms of funding received for the top 4 nation's in MENA have not changed, the VC winter is apparent with noticeably smaller funds raised for each of these startup ecosystems, except Egypt.
Israel still leads with $1.83 billion raised in H1 2023, but is on a crash course, as this is 80% lower than H1 2022's $9.4 billion. It's a troubling figure for Israel, as last year's H1 result was already a 27% drop from H1 2021. UAE fundraised 16% less this H1 2023, with $590 million versus last year's $699 million by this time. Saudi Arabia raised 10% less, with $528 million raised, versus last year's $584 million.
The biggest winner in MENA is Egypt, having raised 40% more this year than last year, having raised $432 million in H1 2023 versus $307 million in H1 2022.
Related Report
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The Middle East & North Africa’s M&A Landscape 2017-2022
A five year review of the 2,911 M&A transactions executed across MENA region, amounting to over $276 billion in transaction value across the top 5 markets: Israel, United Arab Emirates, Egypt, Kingdom of Saudi Arabia, and Kuwait.
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