The venture investment report in the Kingdom revealed that 2021 witnessed the implementation of investments with a record value of 2 billion and 55 million riyals in Saudi startups, achieving a growth of 270 percent compared to 2020, while the number of deals in Saudi startups grew by more than 54% compared to 2020 and a total of 139 Deal.
The report issued by the MAGNiTT platform, which specializes in data on venture capital in emerging companies, and sponsored by the Saudi Venture Investment Company, which was established by the General Authority for Small and Medium Enterprises “Monsha’at”, confirmed that although 2020 was a positive year for venture investment in the Kingdom, 2021 witnessed greater flows, as it recorded The value of bold investments and the number of deals executed during the year set a new record.
The Kingdom advanced from third place to second among the countries of the Middle East and North Africa in terms of the total value of venture capital, accounting for 21% of the total investment value in the region, up from a share of 15% in 2020. The growth rate recorded between 2020 and 2021 was in the value of investment The boldness in the Kingdom is the highest among the 3 most active countries in the region.
The number of investors who invested in Saudi startups rose to a new record high of 76, achieving a growth of 52% compared to 2020. The financial technology sector led the way in terms of the number of deals, while the e-commerce sector accounted for the largest share of the value of the bold investment in Saudi Arabia in 2021.
It is noteworthy that the Saudi Venture Investment Company is a government company established in 2018 by Monsha’at within the Financial Sector Development Program. The company aims to develop the venture capital system by investing 2.8 billion riyals ($750 million).