2021 has been an exceptional year for venture capital investments in the MENA

Pioneer Investors – 2021 has been an exceptional year for venture capital investments in the Middle East and North Africa, which have reached nearly $3 billion so far.

In October 2021, the volume of funding increased by 181% compared to October last year, reaching $150 million, which imposes a new standard and a fertile environment for emerging companies with greater access and expand to global markets, in addition to unlocking the potential of innovation for a more sustainable future.

Regarding exit deals, this year has recorded 23 deals so far, which is the second-highest annual record in the Middle East and North Africa after 32 exit deals in 2019.

The biggest exit deal was for game studio Jawaker, which was bought by Swedish group Steelfront for $205 million in September 2021.

With the continued rise in online shopping operations in the region, supported by the Corona pandemic, e-commerce, and logistics services still dominate the interests of investors, in contrast, the financial technology sector is witnessing faster growth, as financial technology startups in the Middle East and North Africa region have collected funding worth $369 million in 2021 so far.

This represents a 559% increase in capital invested in fintech startups since 2018.

Experts believe that the coming year will be another fruitful year for technology and startups, with many new entrepreneurs entering the market, and with the injection of more local and foreign funds, new innovations will continue to emerge in various fields.