Q3 2019 MENA Venture Investment Summary
$517M was invested across 354 deals in 2019 YTD, which marks an increase of 30% in total funding compared to the same period in 2018, with a 3% increase in the number of deals over the same period. Moreover, the average deal size of disclosed deals, excluding Souq & Careem, is at an all-time high of $2.5M in 2019 YTD.
When looking at the country breakdown, it can be seen that the United Arab Emirates (UAE) continues to account for the lion’s share of total funding, 62% in 2019 YTD. However, we are seeing emerging ecosystems that increasingly account for more deals, including Egypt, Saudi Arabia and Tunisia. Not only that, Egypt ranked first by number of deals in 2019 YTD for the first time this year, accounting for 27% of all deals across the region.
Similar developments can be seen in the industries space – unchanged from H1 2019 and 2018, FinTech received the largest number of investments in 2019 YTD, accounting for 14% of all deals – an increase of 3% compared to the same period in 2018, as investors and accelerators increasingly focus on the industry. Real Estate and Renewable Energy’s total funding was mainly due to the $100M and $65M raised by EMPG and Yellow Door Energy, respectively. However, there have been up-and-coming industries in the region, which can be seen in the top deals and exits section.
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