Saudi Arabia Tops 2023 MENA Venture Capital Rankings
These advances reflect the kingdom's development across various economic and financial sectors.
Jan 09,2024
Saudi Arabia has received the highest amount of Venture Capital funding in 2023 across the MENA region according to a study by MAGNiTT, a MENA-based venture data platform.
This is the first time Saudi Arabia has captured the highest share of total VC funding within the region, accounting for 52% of the total capital deployed compared to 31% in 2022. Over the year, funding into Saudi Arabian startups also grew by 33%.
These advances reflect the kingdom's development across various economic and financial sectors to strengthen and diversify its national economy, and work towards the nation's Saudi Vision 2030 goals.
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