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#Startup momentum in the Middle East and North Africa region is on the rise, with the eagerly awaited #technology event LEAP 2024 just around the corner. Regional venture capitals have replenished their #funds and burgeoning enterprises have secured #financing – preparing Riyadh’s ecosystem for a significant #entrepreneurial uplift from March 4 to 7. 🇺🇸 MoneyHash: #Origin: USA #Funding: $4.5M Seed #Founders: Nader Abdelrazik, Mustafa Eid, Anisha Sekar #Speciality: Payment orchestration #Next #Steps: Expand in Saudi and regional markets, invest in technology development 🇸🇦 Core Vision Investment Co. acquires VeFund: #Origin: Saudi Arabia #Acquisition: VeFund by CoreVision #Founders: Faisal Al-Abdulsalam (CoreVision), Mohamed Gaber (VeFund) #Speciality: AI-driven venture evaluation #Next #Steps: Transform VeFund, enhance startup ecosystem with AI tech 🇸🇦 Tawaref & Plus VC (+VC) MoU: #Origin: Saudi Arabia #Partnership: Tawaref with Plus VC #Speciality: Startup financing and support #Next #Steps: Facilitate Saudi expansion for Plus VC's portfolio via Saudi Landing program 🇦🇪 COTU Ventures: #Origin: UAE #Funding: $54M Fund #Founder: Amir Farha #Speciality: Early-stage venture capital #Next #Steps: Support MENA startups from pre-seed to seed stages, offer up to $2M investment 🇦🇪 Hayi حي: #Origin: UAE #Funding: Undisclosed Seed Round #Founders: Chris Darnell, Rene Morgan #Speciality: Social networking for communities #Next #Steps: Scale operations, enhance marketing, expand presence globally

Is Qatar immune to the #fintech effect? 🤔 Unlike many of our covered geographies where fintech dominates, Qatar's top 5 deals were surprisingly diverse. Each reigned down from a unique industry - all the way from manufacturing startup Else Labs Inc. to edtech startup Muallemi. Together, these rounds captured 65% of the funding in the country in 2023. Want to explore the landscape further? Download our free report, powered by Qatar Development Bank, today: https://lnkd.in/dV38wBif #Qatar #deals #venturecapital #startups

When Saudi Arabia-based Tabby — one of the Middle East’s first fintech unicorns — announced it was acquiring startup Tweeq, it turned heads among venture capitalists eyeing investment opportunities in the kingdom. The deal, which will see Tabby buy the digital-wallet operator for an undisclosed sum, was viewed as fresh evidence that Saudi Arabia’s startup market is maturing and may start to give VCs more strategies for exiting their investments, investors said at the 24 Fintech conference in Riyadh last week. “Successful startup ecosystems are flywheels and startup exits are a key cog,” said Alexandre Lazarow, global venture capitalist and founder of Fluent Ventures. “They help return capital to investors and catalyze new generations of angel investors.” “One of the things that’s exciting about the Saudi market today is the early but increasing amount of technology IPOs and M&A, including in fintech,” Lazarow said, stressing the importance of a viable path to exiting investments in Saudi Arabia as it navigates the early stages of developing its VC market. Saudi Arabia has emerged as one of the hottest markets among emerging VC countries in recent years. It trailed only Singapore in the first half of 2024, with more than $400 million in funds raised, and ranked the highest in the Middle East and North Africa. The country last year overtook the UAE as the top destination for VC investment in the Middle East for the very first time. Saudi company Rasan Information Technology Co., which operates online insurance platforms such as Tameeni and Treza, was among the first local fintech firms to go public in the kingdom. It raised $224 million in June and has seen its share price climb more than 43% since its trading debut. The UAE has historically been the most advanced venture market in the region, with investments dating back to 2013 and 2014, according to VC data firm MAGNiTT. The country has accounted for around 45% of all M&A deals closed in MENA since 2019. But Saudi Arabia is starting to catch up on M&A in particular; 19% of transactions done last year in the region were in the kingdom, Magnitt said. “The window for exit activity in Saudi Arabia is likely to come into fruition in the next 2-3 years,” said Magnitt Chief Executive Officer Philip Bahoshy. “It takes between 7-8 years for a company in MENA to achieve an exit.” Read it here, from myself and Fahad Abuljadayel

#VietNam is rapidly becoming a hotspot for #startup activity in Southeast #Asia. In recent years, there has been a surge in venture capital investments, which reached a record value of $1.5 billion in 2021. To date, there have been 4 unicorns in the country.   Here’s why Viet Nam’s journey towards becoming a high-income economy may hinge on the development of a robust ecosystem for innovative #startups, according to Anwar Aridi Daniel Querejazu, Vinh Quang Dang, and Marcin Piatkowski: https://lnkd.in/eK2XTxmn     #fintech #agtech #edtech #healthtech #climatetech #vc #venturecapital #digitaleconomy IFC Asia Pacific

The venture capital firm Sawari Ventures, based in Egypt, is gearing up to introduce its latest investment vehicle, “Sawari Ventures II,” in the early part of 2025. According to a report by Launch Base Africa, the firm has set an ambitious fundraising goal of $200 million for this second fund. Sawari Ventures II aims to capitalize on the firm’s initial fund’s achievements by broadening its investment scope to encompass additional sectors and geographical regions. The forthcoming fund is structured with a dual focus: one segment will concentrate on Egypt, seeking to galvanize local capital, while the other segment will be oriented towards international investors, including foreign investment entities and development finance institutions. The strategy is to channel support towards startups not only in Egypt but also in Tunisia, Morocco, Kenya, and various countries in West Africa. Out of the total $200 million target, Sawari Ventures anticipates dedicating a substantial 70%—which equates to $140 million—specifically to Egyptian startups over a period of four to five years. Click the link to read more: https://lnkd.in/dJsFCPwS  #innovationvillage #sawariventures #Investment #funding #startups #africastartups #technology #innovations #africabusiness #techtrends  #technews #techpreneur

🕚Here’s a flashback to an exciting and bold VC fund launch from 2023. 💸 In November 2023 Toronto, Canada based venture capital firm RAIVEN CAPITAL launched Raiven DIFC Limited Fund, a new $100M venture capital fund in the Dubai International Financial Centre (DIFC). 💡 Early stage #AI, #IoT and #DLT start-ups with a particular emphasis on digital platforms disrupting value chains in #cybersecurity #finance #energy #health #food #security #supplychain and more. 🌍 Gulf Cooperation Council (“GCC”) which includes #Bahrain #Kuwait #Oman #Qatar #SaudiArabia #UAE; as well as #SouthAsia, and #NorthAfrica and #EastAfrica 📈 DIFC serves as the foremost center of finance for the Middle East, Africa, and South Asia (MEASA), with a regional population of over 3.5 billion and estimated nominal GDP of US $12 trillion. 💭 “The fund will serve the needs of the local startup ecosystem, enabling them to become regional and global competitors, while providing Raiven’s existing community of start-ups and investors access to all advantages of the Middle East and the broader region.” - Paul Dugsin, General Partner, Raiven Capital 💭 “The firm’s presence in DIFC will not only benefit the local startup community in taking the future of tech to new heights, but also provide Raiven’s global network of founders and partners with access to a wealth of resources in the MEASA region and beyond.” - Arif Amiri, Chief Executive Officer, DIFC Authority 🗞️Raiven Capital https://lnkd.in/evwmGpgp 👏 For the #AudaciousInvestors unleashing innovation and empowering tomorrow🚀 Paul Dugsin I Supreet Singh Manchanda I Laurie Fuller I Erin Campbell, I Michael Zehnder, I Anna Shen I Miriam Kiwan I Tarek El-Sawy I David Stewart I James Baty I Tracy Reynolds I Team Raiven Capital … #venturecapital #vc #funds #startups #entrepreneurs #funding #tech #entrepreneurship #technology #innovation #blockchain #canada #measa

In 2023, Saudi Arabia emerged as the dominant player in the MENA venture capital market, with over $1 billion of startup funding, and Fintech being the leading industry. According to a recent article, Sanabil 500 MENA Seed Accelerator Fund, Core Vision Investment Company, Sanabil Investments, Shorooq Partners, and Vision Ventures were the top five investors in Saudi Arabia's fintech ecosystem last year. These investors played a pivotal role in supporting the growth and development of innovative startups in the country. With Sanabil 500 MENA Seed Accelerator Fund being the most active investor in the Saudi Arabian fintech landscape, Core Vision Investment Co. focusing on pre-seed investments, and Sanabil Investments investing in startups at different stages of their development, these investors have significantly shaped Saudi Arabia's fintech landscape. Shorooq Partners and Vision Ventures (VV) also backed multiple startups, providing mentorship, resources, and connections to founders to help them develop their abilities. With these investors' support, Saudi Arabia's fintech industry is poised for continued growth and innovation. #SaudiArabia #Fintech #VentureCapital #Investment #Startups

Here's the MENA VC news you missed out on this week 👇 🇶🇦 Rasmal Ventures , a Doha-based VC firm, has launched its debut $100 million fund to invest in startups in Qatar, MENA, and beyond. Rasmal Innovation Fund I has secured over $30 million in its first close, with backing from various institutions, family offices, and high-net-worth individuals. Claiming to be the first home-grown Qatari VC fund, it is sector-agnostic, focusing on supply chain logistics, climate-tech, fintech, B2B SaaS, and AI. The fund will invest across seed to Series B stages. Alexander Wiedmer | Dr. Shaikha Al-Jabir | Angus Paterson | Soumaya Ben Beya Dridje | Marc Bourland 🤖 UAE-based Polynome has announced a $100 million fund for AI startups, launching in Q1 2025, at the AI Retreat. The fund will invest $500,000 to $5 million in seed to growth-stage startups in technology, AI software, and robotics. CEO Alexander Khanin emphasized their "Founders for Founders" approach and the fund's support for up to 40 companies over five years. 🇪🇬 HSBC Egypt has initiated procedures to launch a $31.5 million fund to invest in SMEs and startups, particularly in the fintech sector. Managed by EFG Holding, the fund is expected to launch in the third quarter of this year. The Suez Canal Bank and other financial institutions are also contributing to the fund, which has received approval from the Central Bank. 🇯🇴 Jordan’s ISSFJO - Innovative Startups and SMEs Fund and SMEs Fund has invested $2 million in VentureSouq Fund II, managed by UAE-based VC firm VentureSouq, to support the Jordanian startup ecosystem, particularly the fintech sector. MOHAMMED ALMUHTASEB | Sonia Gokhale | Maan Eshgi 🇲🇦 The IFC - International Finance Corporation plans to invest up to $4 million in EmergingTech Ventures Fund II (Emtech II), an early-stage Moroccan VC fund targeting an initial close of $40 million. Emtech II will invest in companies operating in Morocco, Tunisia, and Francophone West Africa. Meriem Zairi | Abdelouahid Benlamlih | Sidi Mohammed Zakraoui 🐢 And while you're here, do yourself a favour and sign-up to get more MENA start-up, VC and tech stories, interviews and deep-dives, direct to your inbox twice a week: https://lnkd.in/eVbWNJNp 📥 #mena #startup #vcfunding #uae #jordan #egypt #qatar #morocco

As someone deeply committed to the potential of technology and innovation to drive change, I am thrilled to witness the emergence of new opportunities in #CentralAsia's startup ecosystem. This excitement is further amplified by the recently announced of IFC's $5 million financing for the Sturgeon Capital Fund, aiming to promote digital economies and support the growth of early-stage tech startups in the region. Despite the gradual growth of venture capital in Central Asia, access to funding remains a significant challenge for startups. Therefore, partnerships like the one between IFC and the Sturgeon Capital Fund are crucial for providing necessary resources to fuel innovation and drive economic progress in the region. IFC - International Finance Corporation IFC Disruptive Tech, VC & Funds https://lnkd.in/ehywXyxm

Early-stage venture capital firm Wavemaker Partners recently raised at least $24.5 million from American investors for its fifth fund dedicated to Southeast Asia, according to its filing with the American SEC. Led by Eric Manlunas and B. Paul Santos, the firm recently invested in several Southeast Asian startups expanding operations to the Philippines, including Malaysian prop-tech startup LiveIn.com, Vietnamese fintech platform MFast , and Filipino fintech company Advance. The latest fund, known as Wavemaker Pacific 5 or Wavemaker SEA Fund V, aims to support startups within Southeast Asia's rapidly expanding technology sector. Read now on The Independent Investor. https://lnkd.in/gc5Gkkfe #startup #startupPH #venturecapital #fintech #proptech #southeastasia