Dealroom – MENA VC-Report, Q2 2024

In the second quarter of 2024, startups in the MENA region saw a significant increase in venture capital investment, with a total of $2.8 billion raised, setting a new record. The funding rounds ranged from pre-seed to mega rounds, with the majority falling in the series A to series C range. Despite this growth, the region still lags behind the investment levels seen in 2022. Over 90 rounds of $2 million or more were raised by MENA startups in 2024, with early-stage VC performing similarly to Q2 2013 and late-stage VC reaching unprecedented levels. Enterprise Software emerged as the leading sector in terms of venture capital investment in MENA in the first half of 2024, followed by Fintech.