MENA (ex. Israel) VC Investments projected to reach 9.7 Billion by 2028
By Lucidity Insights Research Team 03 November 2023

MENA (ex. Israel) VC Investments projected to reach 9.7 Billion by 2028

In 2023, MENA, excluding Israel, is expected to reach VC funding around US $3.9 billion, of which 48% is projected to go towards growth stage startups.

By 2028, STV's latest report suggests that the MENA (ex. Israel) region will be investing $9.7 billion into the startup ecosystem, of which 75% will be geared towards more mature, growth stage start-ups.

The report suggests that there is a growth stage funding gap currently, upwards of $20 billion, that must be invested in the coming years. 

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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.