MAGNiTT's 2019 MENA E-commerce Venture Investment Report found that 2019 saw a record of 60 investment deals in E-commerce with the industry ranking at number 2 for total funding and the number of deals in the region. Similarly, our H1 2020 MENA Venture Investment Report reinforced the notion that consumers are turning more and more to online purchases as E-commerce again came in at the second spot for the number of investment deals over the first six months of the year (14%) with over half of total funding (59%) being raised by UAE-based startups.
With a pandemic taking over the world and causing a string of unpredictability to the lives of most, it can easily be suggested that industries such as E-commerce and countries such as the UAE, with their digital-heavy population, increasing government policies, transforming logistics, and accessibility to online options, have benefited from such uncertainty. Consumers have been forced (or encouraged) to make a change to their level of comfortability and user behaviour by turning heavily to online digital models to continue leading convenient and non-disrupted lives.
With the increase of funding in UAE-based E-commerce startups and the shit from offline to online models, are you curious to know who the investors are that have taken a keen interest and invested in these companies? Perhaps you're an E-commerce or UAE-based startup and want to discover who your potential next investor could be?
Discover more than 470 UAE-based E-commerce startups on MAGNiTT
Meet the 5 investors below who have invested in the highest amount of UAE-based E-commerce startups by the number of deals, from 2015 - 2020.
1. 500 Startups
500 Startups is a venture capital firm on a mission to discover and back the world’s most talented entrepreneurs, help them create successful companies at scale, and build thriving global ecosystems. From 2015 - 2020, they have invested in 12 deals for E-commerce startups based in the UAE:
Wamda Capital invest in transformational businesses and create meaningful partnerships with entrepreneurs. Their experience in launching and growing MENA businesses, together with a community of experts and mentors, means entrepreneur partners are uniquely placed to realise their vision. Wamda has invested in 11 deals over the past 5 years:
3. EQ2 Ventures
EQ2 Ventures, formerly known as Equitrust, is a Dubai-based evergreen investment company that invests in Seed to Series B-stage startup companies. Relying on a strong network of strategic investors and mentors, EQ2 Ventures helps talented entrepreneurs solve major consumers and businesses problems, build sustainable companies, and create long-term value. They have invested 7 deals in 3 startups from 2015 - 2020:
Shorooq Partners aspires to help entrepreneurs in their journey to bring world-changing ideas to market. They are founders' partners, company builders, and value investors. Shorooq has invested in 6 UAE-based E-commerce deals over the past 5 years:
Middle East Venture Partners (MEVP) currently manages regional technology-focused venture capital funds with more than $260M in assets under management. To date, MEVP’s team, comprising 22 investment professionals, has invested in more than 50 portfolio companies across MENA and Turkey, with 5 deals being in E-commerce startups based in the UAE from 2015 - present day:
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