Venture capital funds continued to scale back their investments globally in the first quarter of this year. Companies in the Middle East saw a 20% drop in venture capital investment in the first quarter to $824 million, according to the latest Digital Feed report. The number of deals also decreased from 256 in the first quarter of 2022 to 119 in the current quarter.
The founder of the digital feed, Rasha Ghamloush, pointed out that the Middle East has not been affected economically like other markets, considering that the market in America is linked to the banking sector and is more affected by stock markets. While startups in the region still have confidence in the future before the financial reality that the world is experiencing.
Source (Al-Arabiya.net Website, Edited)
