Bahoshy: Saudi VC Deals Fall 35% as Capital Rises

AI Summary

Saudi Arabia’s venture-capital market recorded $1.5 billion in mega-round funding so far this year, even as overall deal activity across the broader startup ecosystem contracted. Magnitt’s report describes a divergence between large funding rounds and a decline in the number of deals.

The Middle East and North Africa's venture capital market is moving at two speeds. A report from Magnitt finds mega-rounds have raised $1.5 billion so far this year. But those deals mask a contraction in deal activity across the broader startup ecosystem. Philip Bahoshy, Founder & CEO at Magnitt spoke to Bloomberg’s Abeer Abu Omar on Horizons Middle East and Africa about their new report. (Source: Bloomberg)