Venture Capital Investments Rise 244% during the 1st Half of 2022

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The venture capital investments in Saudi Arabia recorded robust growth, reaching 244 percent during the first half of 2022.

Riyadh — The venture capital investments in Saudi Arabia recorded robust growth, reaching 244 percent during the first half of 2022. These numbers are in comparison to the same period last year.

MAGNiTT reports phenomenal growth in Saudi Arabia’s venture capital markets.

The venture capital investments exceeded the total funds invested in Saudi startups in 2021. Thus, carrying out investments with a record value of SR2.19 billion in Saudi startups.

According to MAGNiTT Venture Capital (VC) Investment Report, the first half of 2022 saw unprecedented growth in venture capital investments in the Kingdom. MAGNiTT is a leading community and data platform for startups, investors, corporates, and enablers.

The report indicated that 2021 was a positive year for VCs in the Kingdom. However, the first half of 2022 broke a new record by posting significant growth in the value of VC during the first half.

The 79 deals Saudi Arabia has made have advanced it from third to second place in the Middle East and North Africa region. Saudi Arabia grew 36 percent compared to the first half of 2021.

It is noteworthy that Saudi Arabia has maintained its position as the second largest market for attracting VC among the region’s countries during the first half of 2022.

While the VC system in Saudi Arabia also registered a new record participation of 88 investors during the first half of 2022, which increased the number of investors by 126 percent compared to the first half of 2021, when 42 percent of investors were from outside the Kingdom.

CEO Nabeel Koshak of the Saudi Venture Capital Company said the SVC has directly contributed to developing the Venture Capital ecosystem in the Kingdom.

It has contributed to stimulating investment in mutual funds and investing in partnership with groups of angel investors and fund managers.

Over the past years, Saudi Arabia has achieved record growth in venture investment, Koshak said. He added that they have recently launched several new initiatives within the Kingdom’s Vision 2030.

These initiatives will help stimulate VC and the growth of emerging companies and drive the emergence of more venture capital funds and angel investor groups.

“Saudi Arabia is always an attractive market for entrepreneurs and investors, from within and outside the country,” Koshak added. This attraction is due to the enormous size of this market.”

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