According to current data, venture capital investments in the Middle East and North Africa hit $355 million in July, up 206 percent from June and 260 percent year over year.
This expansion demonstrates the region’s tenacity in the face of escalating geopolitical tensions, including possible hostilities between Iran and Israel, and global economic difficulties.
According to Wamda’s monthly report, the number of deals remained consistent at 38, suggesting a stable investment climate despite the wider uncertainty.
Rekindled confidence is probably being fueled by expectations of a US Federal Reserve interest rate decrease in September, which might improve market liquidity and investment appeal.
Less than 1% of all investments in July came from startup loan financing, indicating a shift in funding sources toward venture capital and a rebound from previous downturns in investments.
With $185 million from seven deals, Egypt became the top destination for venture capital, a significant increase from June’s $15 million from four deals. A single $157.5 million investment in the financial startup MNT-Halan was a major factor in this rise.
After Oman, where company 44.01 raised $37 million, the UAE came in second with $96 million invested across 12 businesses, while Saudi Arabia experienced a dramatic dip to $31 million from seven agreements.
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