The Q3 2023 Saudi Arabia Venture Investment Premium report looks at the state of the country's venture capital ecosystem and its evolution within the context of ongoing economic challenges. To learn more about the data, contact our sales team.
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At the macroeconomic level, Saudi Arabia's non-oil sector has notably grown, underpinned by the strategic advancements of Vision 2030. However, the nation's voluntary production cuts amid surging oil prices and rising interest rates prompted the IMF to revise its GDP projection to a modest 0.8% for 2023. Inflation exhibited a gradual descent, coinciding with the interest rate spike of 6% in July.
Within the venture capital landscape, Saudi Arabia rebounded in Q3 with $87M invested across 22 deals, witnessing nearly three times the capital inflow compared to the sluggish Q2 influenced by the Ramadan and two Eids slowdown. Concurrently, deals experienced a marginal uptick, although the year-on-year data revealed a dip of over 30% in both funding and deal count. Notably, the Kingdom reigned supreme over its MENA counterparts, bolstered by the MEGA rounds spearheaded by Halan and Floward in the initial quarter.
Pro Tip: Subscribers can access the Platform's Advanced Analytics tools to make customized cuts by country, industry, stage, and many more spanning MENA, Africa, South East Asia, Turkey, and Pakistan: Contact our sales team to learn more.
What’s in the Report?
The report highlights the performance of the Saudi Arabia VC ecosystem in the past nine months of the year. It includes,
Fund Announcements & Ecosystem Updates
Funding & Deal Evolution
Deal Share by Round Size
Valuation Evolution by Early Stage
Funding & Deal Evolution by Country
Funding & Deal Evolution by Industry
If you'd like to access the report, contact [email protected].
Things to Consider in Q4
As we step into the final quarter of the year, the trajectory of funding could potentially be skewed by a MEGA deal, aiming to rival last year's performance. The imminent tech events such as GITEX in the UAE and RiseUp in Saudi Arabia often pave the way for a flurry of funding announcements. Moreover, there have been significant fund announcements from key players like Jada Funds, KAUST, and SVC. The transformation of these funds into tangible investments, whether in Q4 or the upcoming year, remains to be seen.
What is in the report?
The latest quarterly report offers strategic insights into the performance of the Saudi Arabia VC ecosystem. This report covers a 5-year analysis of Saudi Arabia'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:
Saudi Arabia Venture Funding Evolution: Get a detailed analysis of the past five years, highlighting the growth and development of venture funding in the country with a focus on performance in Q3 2023.
Key rankings such as the Top 20 investors, Top 20 funding rounds, Top 10 last exits, and 5-Year exit evolution of Saudi Arabia.
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.