The document discusses the emerging technology startup ecosystem in the Middle East region. It notes that the Middle East has a large addressable market and population, with governments pursuing initiatives to create fertile ground for innovation. Venture capital funding in the region has increased significantly in recent years, though it remains smaller than Southeast Asia, with most funding going to e-commerce and logistics startups. Dubai has emerged as a major hub for startups and venture capital in the region. Foreign companies and investors are also increasingly active and betting on the potential of the Middle East technology sector.
MAGNiTT 2021 MENA Venture Investment Report SampleKatia Kachan
Following the mission to foster tech innovation in MENA, MAGNiTT, the largest venture data platform tracking startup investments, releases a series of reports that provide a holistic overview of the region’s venture capital ecosystem.
The 2021 MENA Venture Investment Report is the first in the series, a comprehensive deep dive into venture investments across the MENA region. This annual report includes a 5-year trend analysis of venture evolution including a comparison of investments in technology startups headquartered in MENA. We also benchmark the performance of the top-5 countries in the region by the number of registered deals in 2020: the UAE, Saudi Arabia, Egypt, Jordan and Oman.
What’s Inside: This 65+ page report supports governments, investors, entrepreneurs, and ecosystem stakeholders with the data and insight necessary to drive informed decisions. It is useful for stakeholders looking to track the changes in investor sentiment across MENA and to benchmark the performance of technology innovation hubs across the region. We identify trends in capital allocation across various industries, startup maturity stages, business types, and acceleration programs. This report also deep dives into the top investment rounds across these countries, and provides an overview of all startup acquisitions that happened in 2020.
The current Q3 MENA Venture Investment report leverages MAGNiTT's data to provide an in-depth analysis of venture investments in Middle Eastern and North African (MENA) startups in Q3 2020. With the analysed period spreading from 2015 to 2020, the report presents compelling insights on the MENA venture space on a yearly, quarterly and monthly basis. It also paints a dynamic picture of the continued impact of COVID-19 on the region’s technology startups & investors.
The Australia FinTech Report 2021 report is an in-depth analysis of the rapidly evolving FinTech sector in Australia. The report takes a close look at the dynamic FinTech startups in the continent to understand the factors driving innovation. Read Australia FinTech Report 2021 to discover what makes Australia’s FinTech landscape unique—CDR and Open Banking, M&A, the FinTech segments powered by a flourishing ecosystem, growth in the FinTech ecosystem, and much more!
FINTECH RANKED 1ST ACROSS MENA BY NUMBER OF DEALS IN 2018 AND 2019
REGIONAL DEMOGRAPHICS AND GOVERNMENT SUPPORT PROPEL FINTECH GROWTH
PAYMENTS AND REMITTANCES IS THE TOP SUB-INDUSTRY WITHIN FINTECH
THE UAE IS MENA'S LARGEST FINTECH HUB
MAGNiTT 2021 MENA Venture Investment Report SampleKatia Kachan
Following the mission to foster tech innovation in MENA, MAGNiTT, the largest venture data platform tracking startup investments, releases a series of reports that provide a holistic overview of the region’s venture capital ecosystem.
The 2021 MENA Venture Investment Report is the first in the series, a comprehensive deep dive into venture investments across the MENA region. This annual report includes a 5-year trend analysis of venture evolution including a comparison of investments in technology startups headquartered in MENA. We also benchmark the performance of the top-5 countries in the region by the number of registered deals in 2020: the UAE, Saudi Arabia, Egypt, Jordan and Oman.
What’s Inside: This 65+ page report supports governments, investors, entrepreneurs, and ecosystem stakeholders with the data and insight necessary to drive informed decisions. It is useful for stakeholders looking to track the changes in investor sentiment across MENA and to benchmark the performance of technology innovation hubs across the region. We identify trends in capital allocation across various industries, startup maturity stages, business types, and acceleration programs. This report also deep dives into the top investment rounds across these countries, and provides an overview of all startup acquisitions that happened in 2020.
The current Q3 MENA Venture Investment report leverages MAGNiTT's data to provide an in-depth analysis of venture investments in Middle Eastern and North African (MENA) startups in Q3 2020. With the analysed period spreading from 2015 to 2020, the report presents compelling insights on the MENA venture space on a yearly, quarterly and monthly basis. It also paints a dynamic picture of the continued impact of COVID-19 on the region’s technology startups & investors.
The Australia FinTech Report 2021 report is an in-depth analysis of the rapidly evolving FinTech sector in Australia. The report takes a close look at the dynamic FinTech startups in the continent to understand the factors driving innovation. Read Australia FinTech Report 2021 to discover what makes Australia’s FinTech landscape unique—CDR and Open Banking, M&A, the FinTech segments powered by a flourishing ecosystem, growth in the FinTech ecosystem, and much more!
FINTECH RANKED 1ST ACROSS MENA BY NUMBER OF DEALS IN 2018 AND 2019
REGIONAL DEMOGRAPHICS AND GOVERNMENT SUPPORT PROPEL FINTECH GROWTH
PAYMENTS AND REMITTANCES IS THE TOP SUB-INDUSTRY WITHIN FINTECH
THE UAE IS MENA'S LARGEST FINTECH HUB
1. The total disclosed funding amount decreased by $107M (11%) from 2018 to 2019. Also, the number of deals decreased by 30 (6%) from 2018 to 2019.
2. Careem and Property Finder were the two biggest deals of 2018 totaling to $320M which is ~32% of the total amount invested in 2018 in MENA.
White Star Capital Eastern US Venture Capital Landscape 2019White Star Capital
Following in the footsteps of the reports that we have published on Canada, UK, Germany, France, Japan, and South Korea, we are delighted to share our newest report covering the NYC and US East Coast Venture Capital ecosystem. This report focuses not only on NYC but also includes Boston, which has been a long term power in the East Coast’s VC ecosystem, as well as emerging states including Florida, Georgia, North Carolina, Virginia, and the District of Columbia, each of which have had at least two companies raise mega-rounds of $100m or more.
As the world economy continues to become more globalized, foreign direct investment (FDI) continues to gain importance as a form of international economic transactions and as an instrument of international economic integration. In recent years, developing countries like Nigeria with large home markets and some entrepreneurial skills have produced a large number of rapidly growing and profitable multinational enterprises (MNEs). These MNCs are looking for markets where they have comparative advantage to invest in. It is therefore important to create the conditions that would attract FDI from such MNCs. In this context, this study attempts to detail the reasons why Nigerian MNEs have decided on outward FDI, their levels of success, and what other countries particularly in sub-Saharan Africa must do to attract FDI from Nigeria.
It also examines the flow of FDI to Africa since the 1970s and looks at the determinants of FDI with a view to understanding whether the existing policy and operational framework are sufficient for attracting investments. It defines foreign direct investment, discusses the factors that influence FDI, the role of FDI, FDI trends in Africa, sectorial allocation of FDI in Africa, why Africa has lagged behind in receiving FDI, and the various modes of entry.
Government Grants & Incentives to Power Your StartupNifty Grants
Discover the grants and incentives available to Australian startups and emerging companies, including:
* R&D Tax Incentive
* Export Market Development Grant
* ATO private rulings for Early Stage Innovation Company status (investor tax incentives)
Key takeaways
*A basic understanding of the above programs
* Hints to confirming eligibility
* Details for how to claim / apply
* The benefit you can expect back from each program
Created by Nifty Grants, a service by PwC Australia. Learn more at niftygrants.com.au
4th Venture Capital in MENA Report ( 2013 in review) MENA Private Equity Asso...Rami Al-Karmi
4th Venture Capital in MENA Report ( 2013 in review) MENA Private Equity Association includes my thought leadership piece on page 19 - Section4 titled :
Entrepreneurship versus Business as usual in MENA - the "new reality"
What's Happening in the Middle East?
The emergence of a high potential technology startup ecosystem
1. A Bird's Eye View
- Overview
- A Strong Drive Towards Economic Diversification
- The Technology Flywheel has Kicked Off in the Middle East
2. Venture Capital Landscape
- The MENA Tech Ecosystem is Taking Shape
- Venture Capital Funding Landscape
- Key Middle East Venture Investors
- Foreign Institutions Betting on the Middle East
- Notable Cross-border Investments into Middle East Tech Companies
3. Asia-Middle East Nexus
- The Shift to Asia and Growing Trade Ties Between Asia and the Middle East
- Larger Emphasis on Asia as Trade and Investment Partner
- Parallels with ASEAN positions the Middle East for tech growth and inbound investment
- Startup Comparison
Next generation Africa-GCC Business Ties in a Digital EconomyDubaiChamber
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UAE is one of the best countries for opening a new business venture. UAE agencies have received a reputation over the years for the fast production of first-class excessive-upward thrust condo blocks and workplace towers. The adoption of specialised creation techniques, including reclamation and design-and-construct techniques and oil exporter, has made UAE a regional leader. UAE is a leading expert in high-upward thrust design, slope design, high-density design and designing with area constraints all are having the involvement of technology.
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The Future of Fintech in Southeast AsiaFinch Capital
Finch Capital worked together with MDI Ventures and Dealroom to map the local FinTech ecosystem in Southeast Asia. We are sharing local funding and M&A data as well as our thoughts on the developments that shape local growth of Fintech companies
New startup funding in the finance sector witnessed a decline in Q1 2019 while early-stage startups form the biggest chunk. Discover the global trends in our latest Insights Report here http://bit.ly/fi_sector
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With leading 32% of the investors ranking India as the most attractive market this year, India has emerged as No. 1 FDI destination in the world during the first half of 2015. Download the India Attractive Survey to know more.
Rt as - the route to increased fdi for bangladeshM S Siddiqui
Will Bangladesh for FDI only on the basis of low- cost labour? The FDI will not come only on invitation but on the basis of mutual benefits and facilitation of business.
Bangladesh declined to join this RTA on the pretext that "it is a big RTA which goes beyond trade in goods and services and we are not going to do so now or in near future," as told by top bureaucrats to the Financial Express (FE). Observers do not consider this a wise decision as Bangladesh will be left alone as there is hardly any prospect to join existing FTA groups or any probable FTA group in future.
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Our 2019 report follows in Mary Meeker's esteem tradition what is going on in the Tech & Internet scene for Southeast Asia. We are delighted in our first education to share a comprehensive coverage of 1) key trends for the region, 2) new rules re business strategy 3) sector and company overview with a run down on who the top investors are and a country by country analysis, please enjoy.
1. The total disclosed funding amount decreased by $107M (11%) from 2018 to 2019. Also, the number of deals decreased by 30 (6%) from 2018 to 2019.
2. Careem and Property Finder were the two biggest deals of 2018 totaling to $320M which is ~32% of the total amount invested in 2018 in MENA.
White Star Capital Eastern US Venture Capital Landscape 2019White Star Capital
Following in the footsteps of the reports that we have published on Canada, UK, Germany, France, Japan, and South Korea, we are delighted to share our newest report covering the NYC and US East Coast Venture Capital ecosystem. This report focuses not only on NYC but also includes Boston, which has been a long term power in the East Coast’s VC ecosystem, as well as emerging states including Florida, Georgia, North Carolina, Virginia, and the District of Columbia, each of which have had at least two companies raise mega-rounds of $100m or more.
As the world economy continues to become more globalized, foreign direct investment (FDI) continues to gain importance as a form of international economic transactions and as an instrument of international economic integration. In recent years, developing countries like Nigeria with large home markets and some entrepreneurial skills have produced a large number of rapidly growing and profitable multinational enterprises (MNEs). These MNCs are looking for markets where they have comparative advantage to invest in. It is therefore important to create the conditions that would attract FDI from such MNCs. In this context, this study attempts to detail the reasons why Nigerian MNEs have decided on outward FDI, their levels of success, and what other countries particularly in sub-Saharan Africa must do to attract FDI from Nigeria.
It also examines the flow of FDI to Africa since the 1970s and looks at the determinants of FDI with a view to understanding whether the existing policy and operational framework are sufficient for attracting investments. It defines foreign direct investment, discusses the factors that influence FDI, the role of FDI, FDI trends in Africa, sectorial allocation of FDI in Africa, why Africa has lagged behind in receiving FDI, and the various modes of entry.
Government Grants & Incentives to Power Your StartupNifty Grants
Discover the grants and incentives available to Australian startups and emerging companies, including:
* R&D Tax Incentive
* Export Market Development Grant
* ATO private rulings for Early Stage Innovation Company status (investor tax incentives)
Key takeaways
*A basic understanding of the above programs
* Hints to confirming eligibility
* Details for how to claim / apply
* The benefit you can expect back from each program
Created by Nifty Grants, a service by PwC Australia. Learn more at niftygrants.com.au
4th Venture Capital in MENA Report ( 2013 in review) MENA Private Equity Asso...Rami Al-Karmi
4th Venture Capital in MENA Report ( 2013 in review) MENA Private Equity Association includes my thought leadership piece on page 19 - Section4 titled :
Entrepreneurship versus Business as usual in MENA - the "new reality"
What's Happening in the Middle East?
The emergence of a high potential technology startup ecosystem
1. A Bird's Eye View
- Overview
- A Strong Drive Towards Economic Diversification
- The Technology Flywheel has Kicked Off in the Middle East
2. Venture Capital Landscape
- The MENA Tech Ecosystem is Taking Shape
- Venture Capital Funding Landscape
- Key Middle East Venture Investors
- Foreign Institutions Betting on the Middle East
- Notable Cross-border Investments into Middle East Tech Companies
3. Asia-Middle East Nexus
- The Shift to Asia and Growing Trade Ties Between Asia and the Middle East
- Larger Emphasis on Asia as Trade and Investment Partner
- Parallels with ASEAN positions the Middle East for tech growth and inbound investment
- Startup Comparison
Next generation Africa-GCC Business Ties in a Digital EconomyDubaiChamber
Next-generation Africa-GCC Business Ties in a Digital Economy is an Economist Intelligence Unit report, sponsored by Dubai Chamber of Commerce and Industry. The report explores the perspectives of young entrepreneurs and investors in Africa and the Gulf Cooperation Council (GCC) countries on building business relationships, identifying challenges to overcome and spotting opportunities that await. The report is based on extensive desk research and in-depth interviews with entrepreneurs and investors in Africa and the GCC, with a focus on millennials. The interviews were conducted between June and August 2017
UAE is one of the best countries for opening a new business venture. UAE agencies have received a reputation over the years for the fast production of first-class excessive-upward thrust condo blocks and workplace towers. The adoption of specialised creation techniques, including reclamation and design-and-construct techniques and oil exporter, has made UAE a regional leader. UAE is a leading expert in high-upward thrust design, slope design, high-density design and designing with area constraints all are having the involvement of technology.
UAE at its best
The Future of Fintech in Southeast AsiaFinch Capital
Finch Capital worked together with MDI Ventures and Dealroom to map the local FinTech ecosystem in Southeast Asia. We are sharing local funding and M&A data as well as our thoughts on the developments that shape local growth of Fintech companies
New startup funding in the finance sector witnessed a decline in Q1 2019 while early-stage startups form the biggest chunk. Discover the global trends in our latest Insights Report here http://bit.ly/fi_sector
Doing Business in Africa: M&A - background and trends. M&A in the Africa market is increasingly active with a number of stakeholders trying to enter the continent and develop business or acquire market shares. This session will provide an overview of the market with facts, figures, trends and challenges to conduct transactions. In addition, the session will provide some key hints and tips in order to complete transactions in the African environment and present some of the main players.
EY India Attractiveness Survey 2015 – Reasons to Invest in India & Key Factor...EY
With leading 32% of the investors ranking India as the most attractive market this year, India has emerged as No. 1 FDI destination in the world during the first half of 2015. Download the India Attractive Survey to know more.
Rt as - the route to increased fdi for bangladeshM S Siddiqui
Will Bangladesh for FDI only on the basis of low- cost labour? The FDI will not come only on invitation but on the basis of mutual benefits and facilitation of business.
Bangladesh declined to join this RTA on the pretext that "it is a big RTA which goes beyond trade in goods and services and we are not going to do so now or in near future," as told by top bureaucrats to the Financial Express (FE). Observers do not consider this a wise decision as Bangladesh will be left alone as there is hardly any prospect to join existing FTA groups or any probable FTA group in future.
2019 southeast asia internet trends report a primer english finalChris Tran
Our 2019 report follows in Mary Meeker's esteem tradition what is going on in the Tech & Internet scene for Southeast Asia. We are delighted in our first education to share a comprehensive coverage of 1) key trends for the region, 2) new rules re business strategy 3) sector and company overview with a run down on who the top investors are and a country by country analysis, please enjoy.
Akinkunmi Akindiji is a property investor, technology consultant, and avid F1 fan, Kunmi has a diverse range of interests and expertise. With a background in delivering projects across a variety of industries, including insurance, banking, telecoms, and automotive, Kunmi has a wealth of experience supporting enterprise scale digital transformation projects.
MEDICI’s new ‘Africa FinTech Report 2020’ is a deep-dive into the sector; it analyzes segments, funding patterns, M&As, partnerships, and countries, and offers perspectives that have been drawn out of regulatory, economic, and market dynamics.
Discourse on the development, management and coordination of a combination of complex global and local factors work together to ensure a fast growing yet sustainable high technology sector, while moving the Malaysian industry up the outsourcing value chain.
Market makers, industry players and outsourcing professionals will obtain useful insights into long-term strategic technology and economic planning as well as tactical measures used for growth, competitiveness and innovation.
Key stakeholders can take advantage of this knowledge and create a win-win situation
Akinkunmi Akindiji is a property investor, technology consultant, and avid F1 fan, Kunmi has a diverse range of interests and expertise. With a background in delivering projects across a variety of industries, including insurance, banking, telecoms, and automotive, Kunmi has a wealth of experience supporting enterprise scale digital transformation projects
Akinkunmi Akindiji is a property investor, technology consultant, and avid F1 fan, Kunmi has a diverse range of interests and expertise. With a background in delivering projects across a variety of industries, including insurance, banking, telecoms, and automotive, Kunmi has a wealth of experience supporting enterprise scale digital transformation projects
Akinkunmi Akindiji is a property investor, technology consultant, and avid F1 fan, Kunmi has a diverse range of interests and expertise. With a background in delivering projects across a variety of industries, including insurance, banking, telecoms, and automotive, Kunmi has a wealth of experience supporting enterprise scale digital transformation projects
Akinkunmi Akindiji is a property investor, technology consultant, and avid F1 fan, Kunmi has a diverse range of interests and expertise. With a background in delivering projects across a variety of industries, including insurance, banking, telecoms, and automotive, Kunmi has a wealth of experience supporting enterprise scale digital transformation projects.
Diving deep into literally millions of interactions and conversations with different networks such as Facebook, Twitter and Instagram, blogs, forums and news sites in order to bring you analytical info about how social media affects different sectors like:Sharing Economy, Banking and Finance, Ecommerce, Telecom and Fintech.
Explores the investment opportunities, growth, and business markets of Africa. Offers a look at the diversity of African startups, as well as companies that are valued at over $100 million or earning over $100 million annually.
Middle East is a cluster of regions: GCC, Levant and North Africa. This region is bound by a common language but is different demographically and economically
Akinkunmi Akindiji is a property investor, technology consultant, and avid F1 fan, Kunmi has a diverse range of interests and expertise. With a background in delivering projects across a variety of industries, including insurance, banking, telecoms, and automotive, Kunmi has a wealth of experience supporting enterprise scale digital transformation projects.
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3. 8pointCapital
Overview
3Note: MENA does not include Turkey, Iran, Israel | Source: World Bank, IMF, Internet World Stats, CBC, Hackernoon, CNN, Emarketer Inc
Addressable Market
MENA GDP greater than India
Geographic Location
Central hub connecting three continents
Saudi Arabia
Highest per-capita
consumption globally
§ The Middle East has emerged as one of the most active technology consumer markets. Key drivers include a large addressable market, a
young population, and mobile native societies.
§ Governments in the region have started to harness this potential and are pursuing wide ranging initiatives to create fertile ground in
order enable home grown entrepreneurs and innovation. This is starting to bare fruit.
Digital Native Population
Growing e-commerce penetration and hyper active use of social media
Beyond passive capital and towards technology transfer
Middle East SWFs are some of the largest tech investors globally
Population: 350 million
Under 40: 73%
GDP: US$2.4trn MENA
232 million users, 5x
increase from 2012
Saudi Arabia
Highest global
penetration
US$60bn
committed
Middle East
Asia
Europe Africa
ME & Africa online sales
US$49bn in 2021 vs
US$29bn in 2017
5. 8pointCapital
The Technology Flywheel has Kicked Off in the Middle East
5Source: Magnitt, WeAreSocial, CBInsights
Infrastructure, Demographics, and Tech Adoption Exits, Second Time Founders and Returnees
§ Largest number of startups and investors in the region. 8 of the largest
deals in 2017 happened in Dubai (the other 2 were in Saudi and Egypt).
§ Supported by a stronger regulatory framework and an enabling ecosystem,
Dubai is attracting many of the talent from the region (including
returnees).
§ While most economic activity will happen in the big markets, Dubai will
continue to be positioned as the regional funding hub and base jurisdiction
of choice.
§ Growing availability of capital from public and private sources is supporting
the emerging tech scene.
§ Some government fundingand support initiatives include:
§ First generation founder exits, reinvesting in the region and nurturing its
ecosystem.
§ Engineers and entrepreneurs returning home after experiencing fast
growing tech companies abroad to tackle local problems, unique to the
region and others with global scalepotential.
§ Traditionally a laggard and a consumer of technology, the Middle East is beginning to innovate. The flywheel that saw places like China,
India and ASEAN generate multibillion dollar, technology driven companies, is taking shape in MENA.
§ As a result, the region is starting to witness meaningful exits – as well as entry by global players – encouraging additional and new
sources of capital (HNWI, corporate VCs, strategics, SWFs and foreign VCs) to get more active.
Saudi Arabia
US$1.1bn SME & VC FoF
Oman
US$150mm VC
Bahrain
US$100mm VC FoF
Dubai
US$270mm Accelerator
& Fund
Total Population Internet Users Social Media Users Mobile Subscriptions
246 / 68%
million / urbanization
147 / 60%
million / penetration
93 / 38%
million / penetration
312 / 127%
million / penetration
75%
Under 40
+19 / +15%
million / since Jan2016
+30 / +47%
million / since Jan2016
+15 / +5%
million / since Jan2016
Enabled by DubaiStrong Government Support
7. 8pointCapital
The MENA Tech Ecosystem is Taking Shape
7Source: Magnitt “State of MENA Funding: 2017 in Review”, Magnitt “MENA Exit Report 2017”, Pitchbook, as at 31 December 2017, TechinAsia
$75M $210M $249M $410M
$53M
$60M
$625M
$150M124
191
176
260
0
50
100
150
200
250
300
0
100
200
300
400
500
600
700
800
900
1000
2014 2015 2016 2017
Excl Souq & Careem Souq & Careem # of Deals
MENA Venture Capital Funding
E-commerce
32%
Logistics
29%
Robotics
10%
2017 sets record year +65% (excl. Souq & Careem)
Most Funded Verticals (2012-2017)
Majority of investments were into E-commerce and logistics
Startup Exits (2012-2017)
60 exits worth US$3bn in past 5 years
E-commerce
32%
Adtech/Media
29%
F&B
15%
§ 2017 was a landmark year with Amazon’s US$580mm acquisition of Souq.com (e-commerce) and Careem (ride-sharing) taking stage as
the region’s first unicorn. While still nascent in size compared to Southeast Asia (2017: US$7.9bn), Middle East venture capital funding
reached US$560mm in 2017, with a 65% YoY increase in funding excluding Souq and Careem.
§ Funding has been concentrated in e-commerce and logistics, while US$3.0bn in startup exits have materialized in the past five years.
8. 8pointCapital
Venture Capital Funding Landscape
8Source: Magnitt “MENA Exit Report 2017”, Pitchbook, as at 31 December 2017, Wamda ”Collaborative Entrepreneruship” Report, MIT Technology Review
VC Funding by Stage
88% of deals concentrated in early stage (Seed/Series A) rounds
Funding and Exits by Country (2012-2017)
UAE dominates investments and exits with Dubai as a main hub
156
73
26
6
Seed Series A Series B Series C+
(# of Deals)
$1856M
$589M
$700M
$1922M
$174M $192M
UAE Turkey Others
Investments Exits
§ The region’s emphasis on innovation has been reflected in the increase of entrepreneurship support entities from 183 in 2010 to 463 in
2015. Public and private sector support has resulted in the creation of startups that are currently in the early stages of funding.
§ With 42% of startups in the Arab world based out of Dubai, the city’s concentration of young entrepreneurs, strong talent pool,
availability of funding, and recently reformed bankruptcy laws has established the UAE as a leading hub for startups.
9. 8pointCapital
Key Middle East Venture Investors
9Source: Crunchbase, Magnitt “State of MENA Funding: 2017 in Review”, CBInsights
MENA Tech Investors
Active regional investors with growing international interest
Middle Eastern Sovereign Wealth Fund Investments
3 of 10 most active SWF tech investors are in the Middle East
Saudi Arabia
Vision Fund
Qatar Kuwait Oman
United Arab Emirates
Vision Fund
Bahrain
Ideation Early Stage Growth Stage
§ Market momentum is being reflected in the growing investor landscape led by regional players like, STC, Wamda, Middle East Venture
Partners and US funds including 500 Startups and Endure Capital.
§ Governments are also active. The Saudi Public Investment Fund (PIF), Kuwait Investment Authority (KIA), Qatar Investment Authority
(QIA) are top 10 global sovereign wealth fund tech investors. PIF and Mubadala are also anchor investors in the US$100bn Softbank
Vision Fund.
10. 8pointCapital
Foreign Institutions Betting on the Middle East
10Source: China Daily, Retuers, Techcrunch, Huawei press release, StartupBahrain, Khaleej Times, Gulf News, The National, PRNewswire
Asia
US &
EMEA
§ Alibaba announces US$600mm Dubai “Tech Town” and second data center
to serve the region (2017)
§ JD.comannounces expansion into Middle East through partnership with
Saudi government (2017)
§ DiDi and Rakuten invest in ride sharing unicorn, Careem (2016, 2017)
§ Samsung Electronics acquires Egyptian AI startup Kngine(2017)
§ Huawei and Dubai partner to develop smart city solutions (2017)
§ Asia’s largest home shopping network operator, GS Shop, invests in 500
Startups Middle East Falcon fund (2017)
§ Hong Kong accelerators Nest.VC and Brinc open Bahrain offices (2017)
§ Amazon announces Middle East data center in Bahrain (2017)
§ 500 Startups launches US$30mm Middle East “Falcon” Fund (2017)
§ Google sets up innovation hub in UAE (2015)
§ Rocket Internet and MTN Group set up “Middle East Internet Group”
joint venture (2013)
§ PwC acquires tech consulting firm NSI DMCC to expand operations in
Middle East (2016)
§ Voicera acquires Dubai AI working productivity startup, Wrappup (2018)
§ Techstars Accelerator expands into Dubai (2017)
§ Plug and Play launches innovation platform in Middle East (2017)
§ Corporates and investors across Asia, US, and EMEA are increasingly tapping into the Middle East to capture value to be realized as the
region’s digital economy expands.
§ Asian institutions are leveraging home market technology know-how to play a role in the region’s digital growth, in hopes to replicate
their stronghold in Southeast Asia. Western institutions are also expanding their sphere of influence in the region.
11. 8pointCapital
Notable Cross-border Investments into Middle East Tech Companies
11
UAE UAE UAE UAE Kuwait UAE
E-Commerce Transportation Logistics E-Commerce Food Delivery Social Media
May 2017
Acquired by Amazon
(US$580mm)
Aug 2017
Venture Round by DiDi
Chuxing (Undisclosed)
May 2017
Series B (US$41mm)
May 2017
Acquired by Emaar
Malls (US$151mm)
May 2017
Acquired by Delivery
Hero (US$100mm)
Feb 2010
Acquired by Yahoo
(US$164mm)
Headquarters
Sector
Latest Round
International
Investors
MENA
Startups
Source: Crunchbase, Bnext, Gulf Times, Wego press release
§ Promising market dynamics are leading to capital and technology inflows from global investors and regional startups looking for early-
mover advantages. The region’s first unicorn, Careem, has been backed by a mix of investors from Asia (DiDi, Rakuten) as well as the
US/Europe (Daimler, DCM Ventures, Endure Capital).
§ Yahoo! Acquisition of Maktoob in 2013 was the point of inflection for tech-enabled startups in the region; recent cross-border activity
will add further credence.
15. 8pointCapital
Parallels with ASEAN positions the Middle East for tech growth and inbound investment
15Note: MENA does not include Turkey, Iran, Israel | Source: World Bank, IMF, Internet World Stats, CBC, Hackernoon, CNN
§ Parallels between ASEAN and the MENA in terms of demographics, internet penetration, and consumer behavior present
opportunities for investors to capture tech-enabled value creation in these emerging tech markets. Though behind in maturity, the
Middle East is gradually moving towards the tech investment inflection point ASEAN experienced during the past 5 years.
Population 646 million
Under 40 66%
Internet Penetration 56%
Southeast Asia Middle East
Population 256 million
Under 40 75%
Internet Penetration 48%
$1100M $1800M $2500M $7800M
2014 2015 2016 2017
$75M
$210M $249M $410M$53M
$60M
$625M
$150M
2014 2015 2016 2017
Excl Souq & Careem Souq & Careem
North Asian corporates and tech firms have played a major part in ASEAN’s tech boom, the Middle East will be next…
ASEAN VC Funding and North Asian Company Direct Investments (1)
GCC VC Funding and North Asian Company Direct Investments (2)
16. 8pointCapital
Startup Comparison
16
Year Founded 2012 2005 2012 2012
Latest Fundraising Acquired by Alibaba (2016) Acquired by Amazon (2017) Series G led by Hyundai (2018) Series F led by DiDi Chuxing (2017)
Valuation US$3bn+ (estimated) US$580mm US$6bn+ (estimated) US$1bn+
Countries 6 7 156 cities across 8 countries
53 cities across Middle East, North
Africa, South Asia
Key Investors
Alibaba, Temasek, Rocket Internet,
Tesco, Kinnevik AB, Summit
Partners, Tengelmann, HV
Holtzbrink
Naspers, Tiger Global, MENA
Venture Investment, IFC, Standard
Chartered, Jabbar Internet Group
GGV Capital, Softbank, DiDi
Chuxing, , Toyota, Hyundai Motors,
Vertex Ventures, Hillhouse, Tiger
Global
DiDi Chuxing, Daimler, DCM
Ventures, Rakuten, BecoCapital,
Endure Capital, Abraaj Group,
Kingdom Holding Company
Source: Techcrunch, Crunchbase, Innovation Enterprise, Techmash
§ Lazada & Souq: Both companies successfully built an e-commerce ecosystem across multiple markets including the online marketplace,
fulfillment operations, and localized payment solutions. Eventually acquired by e-commerce giants Alibaba (Lazada) and Amazon (Souq)
looking for regional expansion opportunities.
§ Grab & Careem: Both focusing heavily on localization to compete with Uber in their respective geographies. Grab subsidizes mobile
phones for drivers, accepts cash, and maintains close communication with regulators, while Careem focuses on safety and quality of
service, offers mobile wallet functionalities for cash payments, and introduced scheduling of multiple rides a month.
17. 8pointCapital
Disclaimer
17
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