Startups attract bold investments of 630 million riyals


The Kingdom’s daring investment system witnessed an annual growth of 65%, after startups received bold investments worth 630 million riyals in the first half of this year. According to the “Maginty” report, early-stage investment accounted for 82% of the 54 deals concluded in the first half of 2021, while advanced-stage deals rose by seven percentage points year on year.

The Kingdom has risen in rank since the first half of 2020, to acquire the second largest share of the value of venture investment in the region in the first half of 2021, and Saudi startups contributed 14% of the value of venture investment in startups in the Middle East and North Africa, and acquired The second largest share of total venture capital investment in the region after the United Arab Emirates.

Fintech startups raised 1,700% more VCs compared to last year while investment in e-commerce declined 54%, and the focus of VCs in the top five deals in the first half of 2021 decreased 34 percentage points y/y. And the investment distribution improved consistently, as the first five deals accounted for 47%, compared to 81% in the first half of 2020, on the other hand, the accelerated deals did not return to pre-pandemic levels.

About the author

Leave a Reply

Your email address will not be published. Required fields are marked *