H1 2018 MENA Venture Investment Report
July 2018

The H1 2018 Analytics Report summarises and analyses investments in MENA-based startups, including funding trends in countries, industries and funding stages, as well as comparisons and gap analyses. H1 2018 saw $112M invested in 141 MENA-based startups. H1 2018 saw a 12% increase in number of deals compared to H1 2017. The total disclosed investments in H1 2018 ($112M) however, decreased 68% from H1 2017 ($347M).

 

What is included in this report:

- Executive Summary: Snapshot including the key takeaways from the report.

- All Deals in H1 2018: All MENA-based startups that received investment in H1 2018, including country, industry, funding amount, funding stage, and investors.

- H1 2018 Funding Overview: High-level overview and analysis of all MENA-based startup funding over time (monthly, quarterly, and yearly), including a gap analysis to the previous year.

- Funding Stage Breakdown: Analysis of the different stages of funding, such as early stage, Series A, Series B, and how they compare and change over time.

- Industry Breakdown: Analysis of the most popular industries by number of deals and funding amount in H1 2018 and YTD, as well as how they change over time.

- Country Breakdown: Analysis of the most popular countries by number of deals and funding amount in H1 2018 and YTD, as well as any trends over time.

- Top News in H1 2018: Highlight of the top news of H1 2018

 

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H1 2018 Summary

  • Deals: Number of deals increased by 12% from H1 2017 (126) to H1 2018 (141)
  • Disclosed Investments: Total disclosed investments in H1 2018 ($112M) decreased 68% from H1 2017 ($347M)
    • When excluding Careem’s $150M funding round in H1 2017, total disclosed funding decreased 43% from H1 2018 ($112M) compared to H1 2017 ($197M)
  • Undisclosed Funding: Undisclosed deals (e.g. a deal which was announced, but funding amount kept undisclosed) was at 23% of all deals in H1 2018, increasing 6% from 2017
  • This report features calculations regarding undisclosed funding amounts to give a holistic overview of the funding landscape in the MENA region

 

  • Countries: UAE remains dominant in number of deals (32%) and total funding (59%). H1 2018 saw the emergence of other countries in MENA (notably Egypt, Lebanon, and KSA)
  • Industries: E-Commerce was again one of the top industries in H1 2018
  • Funding Stage: Early stage (Angel and Seed) investments remained the most popular funding stage by number of deals, which accounted for 84% of all deals in H1 2018, up 6% from H1 2017
  • Funding Institutions: Most active Venture Capital firms by number of deals in H1 2018 were 500 Startups (10), MEVP (9) & Arzan Venture Capital (7) in terms of number of deals\

 

Main Takeaways

  • H1 2018 vis-à-vis H1 2017: 
    • Deals: 15 more deals in H1 2018 (141) compared to H1 2017 (126)
    • Total Disclosed Investments$235M less invested in H1 2018 ($112M) compared to H1 2017 ($347M)
    • Percentage Change: 12% more deals, but 43% less disclosed investment
  • H1 2018 vis-à-vis H1 2017 (Excluding $150M Investment in Careem in H1 2017): 
    • Deals: 16 more deals in H1 2018 (141) compared to H1 2017 (125) 
    • Disclosed Investments: $85M less invested in H1 2018 ($112M) compared to H1 2017 ($197M)
    • Percentage Change: 12% more deals, but 43% less disclosed investment
  • H1 2018 vis-à-vis H1 2017 (Including MAGNiTT Proxy, excluding $150M Careem Funding): 
    • Deals: 16 more deals in H1 2018 (141) compared to H1 2017 (125) 
    • Investments: $5m less invested in H1 2018 ($201M) compared to H1 2017 ($206M)
  • Percentage Change: 12% more deals, but 2% less investment
    • H1 ‘18 Total Deals: 141
    • H1 ‘18 Disclosed Investments: $112M
    • H1 ‘18 Total Undisclosed Deals: 32 (23% of total 141) 
    • H1 ‘18 Estimated Undisclosed Investments: $89M

 

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Data Insights