News

Start-up deals rise in volume but fall in value

Start-upThe first half of 2018 saw a record number of investments in Middle East and North African start-ups; however, the value of disclosed investments fell by 43% compared with the same period in 2017. A report from start-up data provider MAGNiTT tracked 141 deals in the first half, a 12% increase on the number of deals made in 2017. The disclosed value of the first-half deals was $112 million. Almost a quarter (23%) of the deals were undisclosed – more than in the corresponding period in 2017. The report showed that the UAE continues to dominate the start-up investment market, accounting for 32% of the deals and 59% of the funding, followed by Egypt and Saudi Arabia which saw increases in funding of 12% and 9% respectively. While the report states that there have been several new entrants into the venture capital market, the most active investors remain the same as in 2017 with US-based 500 Startups accounting for ten deals, followed by Middle East Venture Partners with eight deals and Arzan Capital with seven deals. MAGNiTT founder Philip Bahoshy said state-sponsored investments, funds of funds, greater corporate venture capital activity and supportive regulation as the main factors that were expanding the region’s start-up investment market. ©2018 funds global mena

Executive Interviews

INTERVIEW: Totally mega

Jun 13, 2018

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...

INTERVIEW: Protecting the investment

Nov 23, 2017

Rasmala’s trade finance fund recently passed $100 million in assets. Doug Bitcon, head of credit strategies, explains why he has to be hands-on.

Roundtables

MENA ROUNDTABLE: ‘The story is about reforms’

Jun 13, 2018

Our cross-industry panel discuss the positive backdrop in Egypt, the Dana Gas controversy and the potential index upgrades of Saudi Arabia and Kuwait. Chaired by George Mitton in Dubai.

SOUTH AFRICA ROUNDTABLE: Airline syndrome

Jun 13, 2018

Our panellists tell us that instead of launching competing national projects, African countries should work together for the sake of a bigger capital market. Chaired by George Mitton in Cape Town.