Arabnet Business Intelligence has released its latest edition (4th edition) of “The State of Digital Investments in the MENA 2013-2018”. The report states that MENA digital startups are attracting increasing global and regional attention; more governments are pushing for innovation, accompanied by an increase in investor appetite.
According to Arabnet, the number of tech investors in the MENA region increased by a compounded annual growth rate (CAGR) of 24.49% between 2012 and 2018. However, in the past 2 years, there has been a slight decrease in the number of new funds launched, mainly due to the shady economic and political outlook.
Looking at the number of deals, it has grown by a CAGR of 9.5% to 255, with the total value growing much faster at a rate of 23% to $674M. This signals a maturing ecosystem where the average value per deal doubled. Worth mentioning that in 2016, the value of deals stood at a striking $972M, with the rounds raised by Careem ($350M) and Souq.com ($275M) being the prime drivers.
For the full report, kindly visit the link below:
The State of Digital Investments in MENA 2013-2018: Focus on Lebanon