Go Unlimited with Magzter GOLD
Get unlimited access to 9,500+ magazines, newspapers and Premium stories for just
Try GOLD - Free
MENA Venture Capital Declines
Forbes Middle East - English
|Sep 2023
MENA experienced a significant setback in funding and deals during the first half of 2023, reflecting a global retreat in venture capital activity.
-
According to MAGNITT's recent report MENA Venture Investment, MENA startups raised approximately $1.1 billion from 193 deals in the first half of 2023, indicating a 42% decrease in funding and a 49% decrease in the number of deals compared to the same period last year. Almost half of this capital came from three mega-deals recorded by Saudi Arabia and Egypt. The second quarter had a more pronounced impact of the slowdown as it marked the lowest funding level since Q3 2020 and the lowest number of deals since Q2 2017.
This story is from the Sep 2023 edition of Forbes Middle East - English.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 9,500+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Forbes Middle East - English
Forbes Middle East - English
FLYING AHEAD
Earlier this year, flynas became the first ever listed carrier in Saudi Arabia to go public, raising $1.1 billion in its landmark IPO. Managing Director and CEO Bander Almohanna now has his sights set on further route expansion and new destinations.
7 mins
August 2025
Forbes Middle East - English
The Vibe-Coding Factory
Stockholm-based LOVABLE has become the world's fastest-growing software startup, hitting over $100 million in annualized revenue in just eight months by using Al to enable millions of non-coders to instantly turn their ideas into websites, apps and online side hustles.
6 mins
August 2025
Forbes Middle East - English
Navigational Hazards
Even with nepotism, protectionism and infinite” liquefied natural gas, THOMAS CROWLEY JR. shows it ain’t easy being the third generation to run an American shipping company.
6 mins
August 2025
Forbes Middle East - English
REDEFINING LUXURY
Noelle Homsy and Chris Nader built luxury ecolodge brand ENVI Lodges to redefine what it means to travel luxuriously and responsibly in the experiential outdoor hospitality space. Now, as they move towards closing their third funding round, bigger plans are on the horizon.
6 mins
August 2025
Forbes Middle East - English
RESILIENT EXPANSION
Kamel Abou-Aly, Founder and Chairman of Pickalbatros Hotels Resorts, began building his hospitality empire in Egypt 33 years ago. With 5 billion invested at home and abroad, the group continues to expand while strengthening Egypt’s position as a global tourism hub.
7 mins
August 2025
Forbes Middle East - English
TOP 100 TRAVEL & TOURISM LEADERS 2025
Despite ongoing challenges in the Middle East, the region remains a hotspot and a key global tourism hub, driven by diverse attractions the GCC and a robust pipeline of ongoing developments.
4 mins
August 2025
Forbes Middle East - English
Time to Beat Apple
Small value stocks haven't been doing well. But money manager MILES LEWIS makes the case that at a time of turbulence on Wall Street, they are ready for a rebound.
4 mins
July 2025 English
Forbes Middle East - English
CAPITAL CATALYST
America’s largest bank, J.P. Morgan, is deepening its MENA footprint under Khaled Hobballah, Senior Country Officer for MENA and Head of Markets for MENA Tirkiye. As the region gains strategic weight, Hobballah is shaping how global finance flows through the fastest-growing hub.
6 mins
July 2025 English
Forbes Middle East - English
GLOBAL MEETS LOCAL 2025
As global corporations deepen their roots in MENA, the region continues to evolve into a magnet for investment, innovation, and cross-border collaboration.
3 mins
July 2025 English
Forbes Middle East - English
EVERYTHING AI
David Meads, Vice President for the Middle East, Africa, Türkiye, Romania, and the Commonwealth of Independent States at Cisco, returned to the region last year to plug into its full tech-leading potential. With Al dominating conversations and partnerships powering growth, he's seeing fast results.
6 mins
July 2025 English
Translate
Change font size