All quiet on the investment front?: Middle East venture capital funding lower, but market conditions remain positive, funders say | ZAWYA MENA Edition:
After large investments in e-commerce site Souq and ride hailing app Careem in 2016 and 2017, the region’s venture capital market in 2018 may seem quiet by comparison.
But, according to a report published by start-up community Magnitt earlier this month, there were a record-breaking number of investments in the first half of 2018, even if deal values were lower.
The number of investments in the first six months of 2018 was 141 - an increase of 12 percent on the same period in 2017. However, the total amount invested was $112 million – considerably below levels seen in 2016 and 2017, when huge amounts poured into Souq and Careem – a combined total of $625 million in 2016, and $150 million in 2017, according to Magnitt’s report.
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