Number of MENA Funding Rounds Based on Funding Bracket Between 2021 and 2022

The growth of funding in the region has exceeded US$4 billion in both 2021 and 2022 and the number of mega-rounds of US$300 million or more has seen an increasing trend with three seen in 2021 and six in 2022, including two scaleups listing on stock exchanges.

In 2022, there was a significant shift in the number of funding rounds, where scaleups raised funding, and a trend towards larger cheque sizes and funding bracket gained momentum. In the US$100 million to US$1 billion range, funding rounds increased by 100% between 2021 and 2022. Other funding ranges also saw increases between 20% to 87%.

Related Report

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.

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