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Companies led by men dominated Mena startup funding – businesses with women among their founding partners secured less than $21 million in investment

Mena startup funding trebles with fintech leading the way

Technology entrepreneurs across the Middle East and North Africa led a recovery in startup investments in July despite ongoing economic and geopolitical uncertainties. The value of investments in the Mena region hit $355 million last month across 38 startups, an increase of 206 percent on the previous month and 260 percent year on year. NewsletterGet […]

Population growth in the UAE is driving the real estate industry in areas such as Dubai and thus increasing interest in property tech

Middle East property tech draws venture capital interest

Venture capital is pouring into the Middle Eastern property technology industry, buoyed by continued growth in regional real estate. Property tech offerings encompass listing websites, rental management services and investment products, among others. In the first half of 2024 startups in the sector became the number one target for early-stage funding, beating fintech, which has […]

Hollywood actor Leonardo DiCaprio. A US VC fund backed by him plans to invest $50m in Mena climate tech startups

US firm to invest $50m in Mena climate tech

A US venture capital firm backed by Hollywood actor Leonardo DiCaprio plans to invest $50 million in Mena climate tech startups over the next five years. Princeville Capital is targeting mature startups with strong growth potential, facilitating quick exits and a clear path to profitability, its co-founder Joaquin Rodriguez Torres told AGBI. The firm has […]

A worker at Veggitech, a start-up farm in Sharjah, UAE. Agtech startups are looking beyond VC entities for funding

Agriculture startups failing to cultivate VC interest

Agriculture technology founders in the Gulf are having to resort to alternative sources of funding, as interest from venture capital entities dries up. The region is following a global trend. Startups in so-called “agtech” cumulatively raised $1.2 billion across 161 deals in the first quarter of this year, down almost 26 percent and 20 percent […]

Officer, Person, Adult

Saudi fund agrees $67m deal to support Omani SMEs

The Saudi Fund for Development in Oman has signed an OR 25 million ($67 million) deal with the Oman Development Bank to finance startups and create more jobs for the sultanate’s youth. The agreement is part of a wider $150 million package of support provided by the Saudi government through the fund, which offers loans […]

Visitors at the Leap Technology Conference in Riyadh

Saudi Arabia backs tech startup sector with $888m

Saudi Arabia has announced investments worth $888 million to support the local tech startup and venture capital sector. The funds will support industries such as digital payments, e-gaming and artificial intelligence (AI). The announcement was made on the second day of the Leap international technology conference taking place this week in Riyadh. NewsletterGet the Best […]

The value of the Egyptian pound has halved since 2022, leading to reduced investment

Egyptian economic woes to prolong startup funding slump

Egyptian startups face another tough year finding funding, as the prospect of further currency devaluations and stubbornly high inflation deter investors, despite the attractive demographics of the Arab world’s most populous nation. The number of venture capital deals in Egypt in the first nine months of 2023 was 47, down by nearly two thirds on […]

VC firms expect Mena investment will pick up again this year after a slump in 2023

VC firms ready for Mena investment rebound

Venture capital companies expect investment activity in the Middle East and North Africa to rebound this year after a slump in 2023, with startups in Saudi Arabia and the United Arab Emirates likely again to dominate dealmaking. In 2023 there were 517 VC deals in the Middle East, North Africa and Turkey. They raised a […]

Shorooq partner Tamer Azer says the VC firm is excited about investing in a 'different generation' of companies in sectors such as gaming

VC firm Shorooq focuses on AI, biotech and gaming

Venture capital company Shorooq Partners will target companies specialising in sectors such as artificial intelligence, biotech and gaming, a senior executive told AGBI. Shorooq is based in Abu Dhabi and manages about $350 million in assets and invests in startups in the Middle East and North Africa and beyond. It is focused on on fintech […]

There are around 210,000 small businesses in Oman and the sultanate is keen to fund more startups

Oman pushes $5.2bn plan to boost small business growth

Oman has launched a OR2 billion ($5.2 billion) fund to encourage more investment in local small and medium-sized enterprises, as the sultanate looks to capitalise on a growth in support for startup businesses. The funding plan by the Oman Investment Authority follows on from the announcement of the Future Fund Oman last May, which aimed […]