Venture capital investments in May witnessed a significant improvement, with the first half of 2023 recording $997 million in financing across nearly 200 deals, about 50 percent of what was raised in the same period last year, at $1.865 billion.
Saudi startups led the market in terms of the value of the investments they received, accounting for around 37 percent of the funding, followed by startups in the UAE with 29 percent. In Egypt, startups accounted for 29 percent of the funding, with the largest investments going to fintech MNT Hallan, which received investments of 26 percent, making the company a unicorn with a valuation of one billion dollars.
Source (Al-Arabiya.net Website, Edited)
