The flow of venture capital into the Saudi market during the first half of this year made a record jump thanks to the government's policy to develop this type of investment.
The statistics of the Magnet platform, which is specialized in tracking the activity of investments by emerging companies, with the support of the Saudi Venture Investment Company, showed that this type of investment increased between January and June last year by 244 percent, compared to an annual rate.
According to the report, growth exceeded the total funds invested in emerging companies in the local market in the whole of last year, after recording investments with a record value of more than two billion riyals (533 million dollars).
According to Magnet, although 2021 was a positive year for venture capital investment, the first half of 2022 witnessed unprecedented growth. Saudi Arabia advanced from the third place to the second place among the countries of the Middle East and North Africa region in terms of the number of deals, which amounted to 79 deals, achieving a growth rate of 36 percent on an annual basis.
Source (Al Arab Newspaper of London, Edited)
