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$1BN+ of startup investments: 2020 a year like no other!

Writer's picture: Diala DaoudDiala Daoud


If there was a prize for the most unpredictable year of our time, I bet 2020 would win. The unpredictability we lived through in one year on personal & professional levels, the global economy, and world health, remains unmatched!


All this unpredictability got crowned with MAGNiTT's report that was released last week: 2021 MENA Venture Investment Report, which shared how the MENA startups raised a record $1BN+ of investments in 2020!


Here are some key facts I came across:


. Against the backdrop of COVID-19, startups in MENA raised a record $1BN+ of investment in 2020 despite a drop in deals; there was a +13% increase of funding year-over-year (YoY). However, this amount of capital was deployed across fewer deals.


. The total number of transactions went down by -13% YoY to 496 registered transactions.


. In the MENA, the UAE ranked 1st and accounted for the lion’s share of total funding and the highest number of deals. Egypt ranked 2nd, for both total funding and number of deals, and the fast-growing KSA ranked 3rd for both.


. In Pakistan, startups raised $77M in 2020, up 97% from 2019.


. In Turkey, startups raised a record $383M in 2020, up 182% from 2019.


During a year tarnished by economic turmoil, lack of opportunities, and shocking twists, the MENA region witnessed 496 investment deals and a record number of investments. Are you still asking yourself if investors are investing and if you should get that business idea going? Dude, yalla get started! Reach out, and I will connect you with resources. Book a 30min free mentorship call!



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