Explore UAE-Based Investors that have deployed capital in MENA from 2018 to H1 2023 with our comprehensive Market Map. Highlighting the eight-quarter funding progression of regional investors and the top five investors over the past five and a half years.
Since 2018, a total of 346 UAE investors have opened their wallets to MENA startups. 2022 was the pinnacle, with an impressive 81 investors contributing to the region's entrepreneurial growth. However, there has been a consistent decline since Q2 2022, bottoming out in Q2 this year, underlining a shifting investment landscape and the corresponding appetite to deploy capital.
Remarkably, the UAE shares its top ranking with the United States, both contributing 18% to the total investor pool over the last five and a half years, closely followed by Saudi Arabia.
Among the top 10 UAE-based investors, 41% of total deals were orchestrated by the top five. Venture Capital firms Shorooq Partners, Global Ventures, and VentureSouq have led the way holding top-5 ranks in both deal count and capital deployment.
Founded in 2017, Shorooq Partners invests in early-stage technology startups, with a focus on the MENAP region. They have a keen interest in FinTech, Platforms, Software, Web 3, and Tech-enabled business services. Shorooq has invested in notable startups including Saudi Arabia’s Retailo Technologies, Pakistan’s DealCart, and was also one of the investors in Tamara’s $100M round. Last year, they launched Bedaya Fund II, a $150M SEED stage VC fund aimed at investing in early-stage startups.
Global Ventures is the second most active UAE-based VC firm by number of deals. The firm invests in growth-stage companies using technology to transform emerging markets and the world. Global Ventures’ portfolio includes notable startups such as Paymob, Abhi Finance, and Altibbi. By geography, much of their investments are centered in the UAE region.
Wamda Capital is a regional Venture Capital Firm focused on deploying growth capital in the Middle East and North Africa's entrepreneur-led technology companies. The firm currently manages a $75M growth capital fund and is looking to invest in high-growth technology firms from the MENA region. Wamda Capital is an active investor in regional as well as international startups hailing from India and Nigeria including SkillBee and Moove Africa.
VentureSouq (VSQ) is a GCC-based VC for global early-stage technology businesses. The VC firm is an active backer of the E-commerce industry and has invested in startups including the likes of Sary, Huspy, and Omniful. It also launched a $50M FinTech fund in 2021.
Middle East Venture Partners (MEVP)
MEVP is a Middle East-focused venture capital firm that invests in the early and growth stages of innovative technology companies in the Middle East Region with a focus on the GCC and Levant countries. The firm is an active backer of FinTech startups with startups in the sector and was a part of Bahrain-based cryptocurrency startup Rain's $110M round.
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