Saudi Arabia maintained its lead in the Middle East and North Africa region as the highest in terms of venture capital investment value in 2024, which witnessed investments amounting to 2.8 billion riyals ($750 million) in local startups.
The report issued by MAGNiTT, a data platform for venture capital in emerging companies, showed that the Kingdom acquired the largest share, amounting to 40 percent of the total venture capital investment in the Middle East and North Africa region in 2024. It also achieved a record number of venture capital deals by executing 178 deals, which confirms the attractiveness of the Saudi market, enhances its competitive environment, and consolidates the strength of the country’s economy as the largest in the region.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
