UAE, Saudi Arabia lead MENA VC fundraising ...Middle East

Dubai [UAE], October 17 (ANI/WAM): MENA venture capital funding in the third quarter saw $250 million raised across 78 deals, a 32 per cent increase compared to Q2 of 2023, according to the Q3 2023 MENA Venture Investment Premium Report by startup data platform MAGNiTT. This contributed to USD 1.4 billion raised through 286 transactions in the first nine months of 2023. Saudi Arabia and UAE led the region in capital raised, with the Kingdom reporting a 172 per cent QoQ increase. Conversely, the Emirates registered a 55 per cent upswing in new funding. By the number of transactions, UAE has seen the most activity, capturing a third of all deals closed in MENA for the first nine months of 2023

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