The Clap
Venture capital investments in KSA have grown by 244% YoY during H1 2022.
The Deets
The report issued by MAGNiTT, which specializes in data for venture capital in startups and is sponsored by Saudi Venture Capital Company (SVC), revealed that the investments in VCs exceeded the total amount invested in Saudi startups in 2021, investing a record value of SAR 2.19 billion.
Venture Capital
KSA moved up from third to second place among the countries of the MENA region in terms of the number of deals executed, amounting to 79 deals.
KSA managed to maintain its position as the second largest market for VCs in the region during H1 2022.
Why this Matters
The establishment of the SVC in 2018 directly contributed to the development of the VC market in KSA by encouraging investments in investment funds and investing in partnerships with groups of angel investors and fund managers.
VC investments up 244% in H1 2022 ⬆️
