2021 Saudi Arabia Venture Capital Report
Saudi Arabia constitutes one of MENA’s most active venture markets. At MAGNiTT, we have closely followed the journey of this startup ecosystem with the support of the Saudi Venture Capital Company (SVC). As another eventful year wraps up, we release a detailed report to reveal how 2021 shaped up the venture capital space in Saudi Arabia.
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As the trends at the end of H1 2021 indicated, Saudi Arabia just concluded its best year of venture funding and deals. The record-smashing 2021 saw Saudi Arabian VC ecosystem grow by 270% year-over-year as startups accumulated $548M in funding. The country noted its first VC mega-deal with Unifonic’s $125M round, while the total number of deals rose to another high of 139.
In terms of funding, Saudi Arabia surpassed Egypt to rank second in MENA in 2021.
Fintech and E-commerce were leading industries in the country in 2021. Fintech startups closed 19% of total deals while E-commerce ventures accounted for 31% of capital deployed in the country in 2021.
2021 Saudi Arabia Venture Capital Report – Key Highlights
- Venture funding in Saudi Arabia grew by 270% while deals increased by 54% in 2021 when compared to 2020
- H2 2021 was a record half-year period with more VC deals closed and funding raised than in any half-year period before
- The highest number of total investors and non-MENA investors financed Saudi-based startups in 2021
- The VC transactions registered in Saudi Arabia went from accounting for 18% of deals closed in MENA in 2020 to 23% in 2021
- Half the capital deployed in Saudi Arabia in 2021 was concentrated in the largest five disclosed deals
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
Keep the region's latest venture data on your fingertips. Get in touch with our sales team to access our interactive data charts on Emerging Venture Markets
About the Sponsor
Saudi Venture Capital Company (SVC) is a Government VC established in 2018 by Monshaat to stimulate venture investments by investing in funds as well as co-investing with angel groups for the primary goal of minimizing financing gaps for startups and SMEs