Today: 29 October 2025
9 January 2024
1 min read

Saudi Tops MENA Region in Venture Capital Investment

The Kingdom captured the highest share of total VC funding in the MENA region in 2023, accounting for 52% of the total capital deployed, up from 31% in 2022….reports Asian Lite News

Saudi Arabia achieved first rank across MENA for the first time in terms of the amount of Venture Capital (VC) funding in 2023, according to MAGNiTT, the MENA-based venture data platform.

According to the Saudi Press Agency (SPA), this achievement reflects the development the Kingdom is witnessing in various economic and financial sectors in light of the Saudi Vision 2030 and its goals to strengthen the national economy.

The Kingdom captured the highest share of total VC funding in the MENA region in 2023, accounting for 52% of the total capital deployed, up from 31% in 2022.

The funding deployed into Saudi Arabian startups grew by 33% in 2023 versus 2022. This confirms the attractiveness of the Saudi market, enhances its competitive environment, and consolidates the strength of the Kingdom’s economy as the largest economy in MENA and its leading position globally as a G20 country and a member of the “BRICS” group, which represents one of the strongest economic blocs in the world.

ALSO READ: Azerbaijan Welcomes UAE President

Previous Story

New Wave in Modern Housing

Next Story

Winter Cough Woes

Latest from -Top News

Gazans Struggle to Revive Life

Today, Gaza’s markets seem to awaken from beneath the ruins. Partially destroyed shops opened their doors amid streets littered with debris, while merchants attempt to arrange what remains of their goods on

GAZA AID: MSF raps Israel

Doctors Without Borders (MSF) says Israel Continues to Use Aid as a Weapon of War Against Gaza Strip…reports Asian Lite News Doctors Without Borders (MSF) said that despite the ceasefire agreement, Israel

Qatar Emir Meets Trump

HH the Amir welcomed HE the US President and his accompanying delegation, expressing his pleasure at meeting the President during his stopover in Qatar…reports Asian Lite News HH the Amir Sheikh Tamim

Abu Dhabi leads future of food innovation

Global Food Week 2025 cements Abu Dhabi’s leadership in food innovation, uniting 75 countries to showcase sustainable agriculture, cutting-edge technologies, and women-led enterprises driving future food security….reports Asian Lite News Global Food

UAE reshapes AI council

The newly reconstituted Council will be chaired by His Highness Sheikh Tahnoon bin Zayed Al Nahyan, with His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan serving as Vice-Chairman….reports Asian Lite
Go toTop

Don't Miss

Hamdan praises Dubai-based family for organ donation

His Highness also praised the efforts of the medical teams

MBZ hails UAE’s response to rains

H.H. Sheikh Mohamed appreciated members of the national and local