With the release of our Q1 2023 Saudi Arabia (KSA) Venture Investment Report, we take a look at how the MEGA deals played a part in placing the Kingdom ahead of its MENA peers while accounting for the impact of the ongoing economic challenges on the VC space in the country.
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After a record-breaking 2022, Saudi Arabia started the year with an all-time high quarterly funding of $359M with 81% of the total coming from two $100M+ deals closed in the Kingdom during February. Floward and Nana’s Series “C” deals indeed drove funding up to its highest levels for a quarter.The sharp rise in funding in an era of macroeconomic challenges emphasized the ongoing investor interest in the Saudi ecosystem, while the 8.7% growth in real GDP in 2022 showed that the country’s economy is buffered against the ongoing shocks.
At a regional level, the elevated total funding seen in the VC space of the Kingdom translated by having it on top of its MENA peers with a share of 44% of total capital deployed in the region. At the same time, the country tied with UAE at 30 deals, both mirroring the overarching double-digit annual decline seen in the region in the first quarter of 2023.
What’s In The Report?
The latest quarterly report offers strategic insights into the KSA's performance. This report covers a 5-year analysis of the KSA's venture funding evolution, with a specific focus on the country comparison and industry performance in 2023. You will get access to precious information such as:
KSA Venture Funding Evolution: Get a detailed analysis of the past five years, highlighting the growth and development of venture funding in KSA with a focus on the performance in 2023.
Key rankings such as the Top 20 investors, Top 20 funding rounds, Top 10 last exits, and 5-Year exit evolution of KSA.
Who is it for?
Whether you’re a private investor, a VC, an investment company, a CVC, or working in corporate, this report gives an overview of the ecosystem and caters to a diverse audience including any curious minds who want to use the yearly, quarterly and monthly charts in this report to track investment activity.
You can also see in which country and industry the investment activity focused in terms of deals and capital deployed, allowing you to leverage insights and make wise choices.
The report can also be used by consultants looking to identify technology innovation trends and who will find it valuable to look at the evolution of M&A activity and concentration of acquirers/acquired startups.
Last but not least, government entities searching for investment opportunities will also find valuable information to make informed decisions.
Where is this information from?
The report was 100% created using data from MAGNiTT. MAGNiTT is the leading VC verified data platform and offers a comprehensive directory of technology innovation trends. Our unique SaaS solution includes investment directories listing startup venture funding across the Middle East, Africa, Pakistan, and Turkey, and now Singapore. By using MAGNiTT, you will also get access to market sizing tools to visualize investment growth and trends across various industries, geographies, and stages, as well as comparison tools for benchmarking geographies, industries, and investor performance. Furthermore, MAGNiTT offers exit comparisons by examining mergers and acquisitions.
Learn more about MAGNiTT's Data Methodology.
*This report aggregates and analyses tech startup investments in 17 countries in the Middle East and North Africa - listed alphabetically: Algeria, Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Morocco, Oman, Palestine, Qatar, Saudi Arabia (KSA), Syria, Tunisia, United Arab Emirates (UAE), and Yemen.