May proved to be a busy month! In fact, it was the busiest month in 2018 by amount invested. A couple of key highlights for you:
- 20 deals undertaken amounting in $41.7M in disclosed funding.
- If we compare YTD 2018 to the same period in 2017 we have seen roughly the same number of startups funded but a considerable $60M drop in amount invested
- The top 3 most funded startups were Aqeed ($18M), Alawooz ($13.6M) and BaharSoft ($6M).
- Questions remain as to whether 2018 is actually looking positive. Signals suggest that the MENA region needs a strong summer period to see us keep pace with previous year funding. For example, June to August 2017 saw $300M of funding announcements.
- Thus far major existing VC institutions have made very few disclosed investments. Is there a funding squeeze taking place?
- Rumors of a $500M funding of Careem as they prepare for an IPO.
May 2018 comparison
• Deals:20 in May 2018
• Disclosed Investments:$41.68M in April 2018
• May 2018 vis-à-vis April 2018:
- Deals: 4 more deals in May 2018 (20) compared to April 2018 (16)
- Disclosed Investments: $14M more invested in May 2018 ($42M) compared to April 2018 ($28M)
• May 2018 vis-à-vis May 2017:
- Deals: 9 fewer deals in May 2018 (20) compared to May 2017 (29)
- Disclosed Investments: $35M less invested in May 2018 ($42M) compared to May 2017 ($77M)
• January – May 2018 vis-à-vis January – May 2017:
- Deals: 2 fewer deals in Jan-May 2018 (101) compared to Jan-May 2017 (103)
- Disclosed Investments: $59M less invested in Jan-May 2018 ($107M) compared to Jan-May 2017 ($166M)