Venture investment in the Kingdom grew 244% in 1H to SR2.1 bln

Venture investment in the Kingdom of Saudi Arabia grew 244% during the first half of 2022 compared to the first half of 2021, exceeding the total funds invested in Saudi startups in the whole of 2021, carrying out investments with a record value of SR 2.190 billion in Saudi startups.

The report issued today by the MAGNiTT platform, which specializes in data on venture investment in emerging companies, and sponsored by Saudi Venture Investment, confirmed that although 2021 was a positive year for venture investment in the Kingdom, the first half of 2022 witnessed unprecedented growth, as it recorded The value of the bold investments executed during the first half of it set a new record.

The Kingdom advanced from the third place to the second place among the Middle East and North Africa countries in terms of the number of deals, which amounted to 79 deals, achieving a growth rate of 36% compared to the first half of 2021, as the Kingdom managed to maintain its position as the second largest market for attracting venture investment.

The venture investment system in Saudi Arabia recorded a new record participation of 88 investors during the first half of 2022, as the number of investors increased by 126% compared to the first half of 2021, when 42% of the investors were from outside the Kingdom.

The CEO and member of the Saudi Venture Investment Board, Dr. Nabil bin Abdul-Qader Koshak, said: “The establishment of the Saudi Venture Investment Company in 2018 directly contributed to the development of the Venture Investment system in the Kingdom by stimulating investment in investment funds and investing in partnership with groups of angel investors and fund managers.”

He added: “The Kingdom has achieved record growth in venture investment over the past years, and within the framework of the Kingdom’s Vision 2030, many new initiatives have been launched recently to stimulate venture investment and the growth of emerging companies, in addition to the emergence of an increasing number of venture capital funds and angel investor groups.”