Dubai's Venture Capital Ecosystem

Saudi Arabia

Looking at the last 5 years, the UAE has dominated the MENA funding landscape since 2018. The UAE&#39;s funding value has consistently exceeded 100% compared to other ranked countries.

The Top 5 Markets in Terms of Fundraising in the Last 5 Years from 2018-2022

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More than 30% of the funding rounds are attributed to startups headquartered in Dubai, implying 87% of all funding rounds for&nbsp;UAE-based companies are for firms headquartered in the Emirate. What is more amazing though is that Dubai-based companies&nbsp;have raised nearly 60% of all MENA funding since 2012. Dubai is also home to the most unicorns in the region and aims to be&nbsp;home to 20 unicorns by 2031.

Cities in Middle East and North Africa that are Home to the Most Unicorns, Based on Verifiable Public Disclosures

Cities Home to the Most Unicorns in MENA (Based on Verifiable Public Disclosures)

The last 3 years have seen UAE&nbsp;dominating the MENA funding landscape&nbsp;with over US$3 billion in capital raise&nbsp;in 2021 and 2022. What&rsquo;s impressive&nbsp;is that Saudi Arabia and UAE are the&nbsp;two countries that crossed the US$1&nbsp;billion mark in 2022 with approximately&nbsp;average funding value of US$17.1 million&nbsp;for UAE and US$18.8 million for Saudi&nbsp;Arabia.

Egypt is the next country which&nbsp;has consistently ranked in the top 5,&nbsp;exhibiting an increasing average funding&nbsp;value between 2020 and 2022.

Bahrain&nbsp;was in the top 5 during 2020 and&nbsp;2021, however wasn&rsquo;t in 2022. Instead, Lebanon&nbsp;takes the 4th position in 2022. The&nbsp;5th ranked country has changed hands&nbsp;from Kuwait to Jordan to Algeria.

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Top 5 Markets in Terms of Fundraising, Last 5 Years (2018-2022)

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