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MENA PE Activity & Share of Deal Count (by Sector in 2014 - H1 2024)
Private equity (PE) dealmaking in the MENA region has faced its toughest year yet, with investments in H1 2024 plunging to just US $5.9 billion across 49 deals. This marks a steep decline from the US $15.4 billion and 159 deals recorded in 2023, underscoring the region's weakest performance in two years. Challenging market conditions, including volatile oil prices and ongoing geopolitical tensions, have significantly impacted PE activity, according to PitchBook’s latest report.
Despite the downturn, some sectors are gaining momentum. The healthcare, IT, and business-to-consumer (B2C) industries are drawing greater attention from PE firms. Healthcare investments are rising due to aging populations and increased healthcare needs, while IT and B2C sectors benefit from the region’s push toward digital transformation and consumer-centric services. Furthermore, government-led initiatives and reforms focused on economic diversification beyond oil are drawing increased private equity investment into these high-growth sectors.
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Dubai’s Digital Economy and Its Expanding Startup Ecosystem
Dubai’s startup ecosystem will have raised over USD 2 billion by the end of 2022, with self-employed and digital economy roles tripling. Few MENA markets have a 20-year-old startup ecosystem birthing multiple unicorns. Dubai has been the digital startup hub for tech giants and new unicorns alike. Since 2017, Dubai has raised 96% of UAE’s funds, totaling over USD 2 billion by October 2022. LinkedIn data shows a booming digital economy job market with increasing opportunities and remote work options. Learn from top home-grown startups and global transplants why Dubai is poised to become the next digital economy capital of the world.
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