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State of Startup Funding - 2021 Emerging Venture Markets Report
January 2021

For the first time ever, MAGNiTT’s annual venture investment report gives a high-level overview of the latest trends in the Middle East and North Africa (MENA), Pakistan, and Turkey venture capital funding.


This report includes venture investment analysis for transactions in 2020:

 

• Aggregation and analysis of all tech startup investments in MENA, Pakistan, and Turkey

• Deep-dives into the startup ecosystems of the United Arab Emirates (UAE), Egypt, Saudi Arabia (KSA), Pakistan, and Turkey

• A list of the most active international and regional investors, including venture capital (VC) investors, angel networks, and accelerator programs

• Analysis of trends in industries and sectors by amount of funding and number of deals, in all sectors including E-commerce, FinTech and EdTech

• Comparison of the largest startup investment deals across each country


REPORT HIGHLIGHTS: Against the backdrop of COVID-19, in 2020, the MENA region saw a record-high $1 Billion dollars of Funding for startups in 496 deals. Turkey saw a record-high $383 Million invested in 140 transactions, and Pakistan saw $77 Million in a record-high 48 investments.



Specifically interested in the MENA region?
Access our annual 2021 MENA Venture Investment Report for a deep-dive into the regions investments trends.

For more insights on the state of startups in the region, MAGNiTT's CEO Philip Bahoshy will be hosting four prominent investors in our annual investor roundtable session.

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REPORT INSIGHTS: 

• In MENA, the UAE ranked 1st and accounted for the lion’s share of total funding and the highest number of deals in MENA. Egypt ranked 2nd for both total funding, and the fast-growing KSA ranked 3rd for total funding

• In MENA, Lebanon and Bahrain also saw dramatic changes in 2020. Lebanon witnessed a steep drop in the number of deals, while Bahrain saw the capital deployed in startups triple (up 200%)

 

• In Pakistan, the $77M invested in startups was double that of 2019 (a +97% increase). The number of deals was also up by 45% - reversing the general trend in MENA countries, where deals were down

• In Turkey, the $383M invested in Turkey-based startups was almost triple that of 2019 (a +182% increase). The number of startups getting investment also increased by 10%

* This report aggregates and analyses tech startup investments in 19 countries in emerging venture markets (EVMs) - listed alphabetically: Algeria, Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Morocco, Oman, Pakistan, Palestine, Qatar, Saudi Arabia (KSA), Syria, Tunisia, Turkey, United Arab Emirates (UAE), and Yemen.


Access previous Venture Capital Funding Reports:

H1 2020 Turkey Venture Snapshot

H1 2020 Pakistan Venture Snapshot

H1 2020 Saudi Arabia Venture Capital Snapshot

H1 2020 MENA Venture Snapshot

2019 MENA Venture Investment Summer

2019 Saudi Arabia Venture Capital Snapshot


This report was created with data from MAGNiTT, which is a comprehensive directory of emerging tech and new business strategies through tools like:

Investment directories, a comprehensive list of all startup venture funding across the Middle East, North Africa, Pakistan and Turkey

Market sizing tools to visualize investment growth and trends across industries, geographies and stage

Startup resources including a deal flow tool for applications to leading Venture Capitalists for investment

Exit comparisons, looking at Mergers & Acquisitions from across the region

 

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Data Insights