The venture capital industry in the region is expected to see more deals this year with most leading players claiming strong deal pipelines and improving the business environment in the Middle East and North Africa (Mena) region.
Releasing the first collaborative venture capital (VC) report in the Mena region in Dubai yesterday, Mena Private Equity Association (MPEA), which is made up of leaders from venture capital industry in the region, said there had been a three-fold increase in the number of venture capital deals in the past two years, despite the global financial downturn.
"There are clear indications of an uplift in the industry. When we consider deals in private equity and pure venture capital deals together, the upward trend is more evident," said Tom Speechley, chief executive of Riyada Enterprise Development (RED), the private equity platform of Abraaj Capital.
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