Venture capital activity in Saudi Arabia hits $987 mln in 2022
- Date: 02-Feb-2023
- Source: Argaam
- Sector:Financial Markets
- Country:Saudi Arabia
Venture capital activity in Saudi Arabia hits $987 mln in 2022
Venture capital (VC) activity in Saudi Arabia grew 72% year-on-year (YoY) in 2022 to $987 million, according to Saudi Venture Capital Co. (SVC), a subsidiary of the Small and Medium Enterprise Bank (SME Bank).
The firm pointed out that fintech was the preferred sector for investors in terms of the number of deals and investment value in the Kingdom, accounting for 24% of the total venture capital through $239 million raised through 28 deals.
The table below shows the number of transactions and value of venture investments since 2018:
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