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2019 Saudi Arabia Venture Capital Snapshot
January 2020

Saudi Arabia saw a record number of startup investments and total funding in 2019

2019 saw 71 startup investments take place in Saudi Arabia, amounting to $67M in total funding, according to MAGNiTT’s 2019 Saudi Arabia Venture Capital Snapshot. The report, which is sponsored by Saudi Venture Capital Company (SVC), provides an in-depth analysis of startups and venture capital (VC) investment in one of the region’s fastest growing ecosystems: Saudi Arabia.

 

هل تُفضّل الحصول على التقرير باللغة العربية؟ اضغط هنا.

 

 

Philip Bahoshy, MAGNiTT’s founder & CEO, notes, “With the government clearly identifying innovation and entrepreneurship as one of their key focuses in line with Vision 2030, many new initiatives have been launched in 2018 and 2019. Usually, these initiatives take time to come to fruition, but we have already seen their impact on the ecosystem in the country and the wider MENA region.”

 

Through these initiatives, as well as an increase in private capital availability, total funding increased by 35% and the number of deals increased by 92% from 2018 to 2019. Both of these numbers indicate strong growth in the Saudi entrepreneurship ecosystem, with deals and total funding at an all-time high.

 

With this increase in deals and total funding, Saudi Arabia increased its rank among its MENA-based peers as well: the country now ranks third in the region by both deals and total funding, following the United Arab Emirates (UAE) and Egypt.

 

Contributing to the strong growth in the number of deals are existing and newly established accelerator programs, such as the Misk 500 MENA Accelerator and the Misk Growth Accelerator. In 2019, accelerators accounted for 32% of all investments in Saudi-based startups.

 

Moreover, Saudi Arabia’s PIF has launched the largest Fund of Funds in the region to date – the $1.07B Jada fund, which will aim to invest in local and regional venture capital firms.

All these initiatives resulted in another record: more institutions than ever before made investments in Saudi-based startups – 41 in 2019, as local and international investors show increased appetite for Saudi-based startups. The majority of these investors came from the Kingdom (68%), but the country also saw significant interest from international investors, who accounted for a third of all investors – higher than the MENA average.

 

Do you want to know more about the key venture capital and startup trends in Saudi Arabia? Download the free report by clicking the button below.

 

هل تُفضّل الحصول على التقرير باللغة العربية؟ اضغط هنا.

 


The full 100+ page MENA Venture Investment report was created with proprietary data from MAGNiTT’s leading platform.

 

This includes data-driven charts and graphics on the following: 

- All 17 countries in MENA, by funding amount & deals, including a deep-dive into 5 top funded countries

- All 28 industries in MENA, by funding amount & deals, including a deep-dive into 3 top funded industries

- Ranking of the most active investors by funding stage

- All new funds and investors established in MENA in 2019

- A full list of all exits in 2019

 

Empower your team with data! Do you want to learn more about the full 100+ report? Click HERE.

Data Insights