MEAPT Venture Funding in Q1 2025: A Market Maturing, Not Shrinking

Venture capital across the Middle East, Africa, Pakistan, and Turkey (MEAPT) is hitting a turning point. At first glance, April 2025 looks bleak. Total deal value is down 18.8% year-over-year, and the number of deals has been cut in half. But zoom in, and the story shifts.

There were no mega-rounds this April. Last year’s numbers were inflated by a US $1.5 billion raise from G42 in the UAE. Without it, funding by this point in 2024 would’ve been much lower—meaning 2025 is actually ahead. Fewer deals are happening, but the ones that do close are larger. The average check size has climbed to US $10.8 million, more than double what we saw two years ago.

The funding map is shifting too. Turkey’s Sipay landed the biggest round in April, while Egypt and Pakistan both made the top 10 for the first time this year. FinTech remains strong, but sectors like DevOps and AI are gaining ground. It’s clear investors are backing technical infrastructure and long-term bets.

Most of the money is still going into Series A and B rounds. Late-stage capital is tighter, especially with IPO markets stuck in limbo. But that’s also pushing investors to look earlier—placing smart, strategic bets now with hopes for future payoffs. And while sovereign wealth funds remain active, private capital is showing signs of greater selectivity.

This isn’t a market in decline. It’s one that’s maturing. Fewer spray-and-pray deals, more focus. A broader mix of countries and sectors. And stronger founders building for the long haul. MEAPT’s VC scene may be moving slower on the surface, but under the hood, it’s getting sharper.

Top 10 April 2025 Funding Rounds in MEAPT:

1. Sipay, Turkey — US $78M, Series B
   Led by: Elephant VC (US)
2. Lightrun, Israel — US $70M, Series B
   Led by: Accel and Insight Partners
3. AMAN, Egypt — US $59M, Debt Financing
   Structured by: Bokra (Sharia-compliant sukuk issuance)
4. Stitch, South Africa — US $55M, Series B
   Investors: Existing backers including Raba Partners
5. Haball, Pakistan — US $52M, Debt Financing & Seed
   Led by: Meezan Bank (Debt), Zayn VC (Equity)
6. Element Labs, Israel — US $50M, Series A
   Led by: Fidelity Investments
7. Sentra, Israel — US $29M, Series B
   Led by: Key1 Capital
8. HRA Experience, UAE — US $39.6M, Undisclosed Round
   Investors: Not disclosed
9. Cynomi, Israel — US $37M, Series B
   Led by: Insight Partners and Entrée Capital
10. Groundcover, Israel — US $35M, Series B
    Led by: Zeev Ventures