The Magnet platform specializing in bold investment revealed the growth of the volume of investment in bold capital during the first half in the Kingdom of Saudi Arabia by 102 percent, exceeding the full growth rate of last year 2019.
According to "Magnet," the value of the total aggressive investment in Saudi startups grew at a much faster rate than the growth rate in the Middle East and North Africa, as the growth rate in the total value of aggressive investment in the countries of the region did not exceed 35 percent during the first half of this year compared to the same period in 2019.
According to "Magnet" report, entitled "Bold Investment in the Middle East and North Africa 2020", the MENA region witnessed a decrease of 8 percent during the first half of the year compared to the same period in 2019, while Saudi Arabia recorded a 29 percent increase.
According to "Magnet", the increase in the value of investments and the number of deals in Saudi Arabia came despite the Coronavirus crisis, which greatly affected the cash flow of startups.
Source (Al-Sharq Al-Awsat newspaper, Edited)
