Karim Jalbout

June review: the MENA startup ecosystem attracts capital, with Q2 funding growing 5% to $453 million compared to Q1 2024. ▪️ MENA startups raised $116 million across 38 tech startup deals in June 2024, bringing the total for the first half of 2024 to $882 million. ▪️ Funding activity rose 182% compared to the same period in 2023. ▪️ UAE-based startups led the region in June with $82.5 million raised, followed by Egypt with $15 million and Saudi Arabia with $13.5 million. ▪️ B2B startups dominated June funding, raising $66.4 million across 18 deals (74% of the total investment). ▪️ The majority of June’s investment went to the pre-Series A stage ($45 million) and Seed stage ($27.3 million). ▪️ Fintech reclaimed its position as the most funded sector in June with $38 million across 10 deals. Q3 investment volumes are projected to surge as several VCs have launched new funds after a short-term consolidation pause to assess the market sentiment toward each sector. 📈 EdTech and HR-tech startups, in particular, are expected to gain traction in the second half of the year to diversify the investment landscape and unleash opportunities for funders and investors in the region. #StartupInvestment #VCfunding #MENA

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Saudi Arabia’s venture capital landscape continues to grow with its reverberations reaching far continents. Global venture capital firms are capitalizing on the Kingdom’s expansive strategy, as evidenced by the state-owned Saudi Venture Capital Co.’s $30 million investment in a US-based investment firm.   SVC has pledged this significant investment in a private equity fund managed by the renowned US-based investment firm General Atlantic. The investment in the private equity fund by General Atlantic is part of SVC’s Investment in Funds Programme and an implementation of its strategy related to attracting top global fund managers to invest in Saudi-based companies as well as stimulating investment for later stages. #Saudiarabia #investment #fundraising #fundmangers #VentureCapitalists #GCC #Riyadh #VCs #GPs

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🚀 Are we seeing the light at the end of the tunnel for VC funding? Despite a 34% YoY drop in funding and deals across Emerging Venture Markets in H1 2024, there's a standout: #MENA saw a remarkable 33% increase in investor participation, underlining its continued appeal for international investors. 📈 Dive deeper into the evolving landscape with our MAGNiTT comprehensive H1 2024 VC report! 📊 Discover key insights and trends shaping the future of investment across MENA, South East Asia and Africa. Download it here: https://lnkd.in/dyXQF6ND Some intriguing highlights include: 🌏 Southeast Asia dominated with 64% of total EVM funding. 🌍 Africa's share decreased to 11% from 18%. 💼 Antler and 500 Global topped the charts for deal numbers. 💰 Alibaba Group led in funding with $234M deployed. 🇸🇬 #Singapore led in capital deployment despite a 29% funding decline. 🇸🇦 #SaudiArabia and 🇦🇪 #UAE showed resilient performance with unique funding dynamics. Join me on June 17th at 3PM for a deep dive into these insights during our H1 webinar. Don't miss out—save your spot here: https://lnkd.in/dxJDhsAe Let's decode the numbers together! 🚀 #VentureCapital #Startups #H1Reports #Data #Investment

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If you want to learn about the angel investing landscape in the MEA region, come join me, Maha Mandour (COREangels MEA ) and Ayman El Tanbouly ( Exits MENA ) later today. Register at the link. #investing #angelinvesting #angels #mea #mena #middleeast

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The increasing sophistication of Saudi Arabia's institutional investor base over the past 7 years continues to fascinate me, and Riyadh-based SVC has been at the forefront, executing investment partnerships such as this $30 million commitment to global $84 billion+ AUM growth private markets fund manager General Atlantic, with the aim to attract global fund managers to Saudi Arabia and deploy capital in later stage, high-growth companies. SVC is an investment firm established in 2018 and is a subsidiary of the SME Bank, one of the development banks of the National Development Fund (NDF). SVC aims to stimulate and develop financing solutions for startups and SMEs from pre-Seed to pre-IPO by investing $2 billion through investment in Private Capital funds (Venture Capital, Private Equity, Venture Debt, Private Debt) and co-investment in startups and SMEs. The focus of this venture will be on investing in high-growth, tech-enabled companies within Saudi Arabia.  The initiative aims to bolster #innovation and entrepreneurship in the region, particularly in key sectors such as #consumer goods, financial services, #healthcare, life sciences, and #technology.  No doubt, General Atlantic are one of the best and most established partners for this endeavor. Congratulations Nabeel Koshak and the SVC Team in Saudi! #partnerships #saudiarabia #alternativeinvestments #fundmanagers #capitalmarkets #saudivision2030 #riyadh #mena #gcc #privatemarkets #growthequity #startups #entrepreneurship #venturecapital #privateequity #institutionalinvestors

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Imagine this. You get contacted by a global venture accelerator making waves in MENA to be flown out and meet with early-stage founders being incubated by a leading regional Telco to listen, share experiences, offer insights & even learn a thing or two about what else the builder's struggle looks like To think that a 🍔boy (that's what the proverbial they call US-Educated Pakistanis) would one day be sitting on a platform sharing "wisdom" and "feedback" as if I have anything useful to share 🫣 While I may appear humble, I'm acutely aware of the experience I bring. The only question is, whether it creates value for those it's intended to benefit. Heck, the kind of trouble I̴'̴v̴e̴ ̴g̴o̴t̴t̴e̴n̴ ̴i̴n̴t̴o̴ I'm getting into while trying to build a company, or three, it's impossible to do without pitfalls worth sharing with others. Brinc - Thank you for bringing me out to Muscat to meet these really inspiring and generally epic founders ⤵️ 1. Tasheel ▸ Sharia-compliant travel platform offering "Travel Now Pay Later," allowing exploration without upfront payments. 2. Hal Capital ▸ Sharia-compliant microfinance platform providing direct financing to underbanked MSMEs and individuals. 3. Bon + ▸ SaaS-enabled B2B wholesale marketplace for the Hotel, Restaurant, and Catering (HoReCa) sectors. 4. Bayanat ▸ Data analytics firm leveraging AI/ML to optimize ROI and operations in energy and telecom, aiding critical decision-making. 5. Sayyad ▸ Digital seafood marketplace connecting fishermen with businesses to optimize costs and reduce waste. 6. Wadiaa ▸ Regulated fintech hub for crowdfunding new ventures and crowdlending for SMEs, empowering savings and investment. I for one am very excited to see how these startups create value, within and beyond The Sultanate of Oman 🇴🇲! ----- jalebi.io | جليبى Omantel Brinc Brinc MENA Lutfi Al Shukaili Amani Al Subhi Ahmed Bayoumi Qais Al Jedyani ----- #Founders #Mentoring #startups #Oman #Muscat

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I am incredibly proud to share that the Public Investment Fund (PIF) Investment Fund has been recognized as the world’s No.1 sovereign wealth fund by brand value. For me, working at PIF is not just a job; it's a privilege. Every day, I choose to be part of this transformative journey, contributing to the economic revitalization of Saudi Arabia and beyond. Why is PIF so special? ☑️ With a brand value of $1.1 billion, PIF stands out globally. ☑️ Our brand strength is top-notch, reflecting our solid investment strategies and strong market presence. ☑️ PIF ranks 6th highest in brand value to AuM ratio among all asset management firms worldwide. Public Investment Fund (PIF) is the driving force behind Saudi Arabia’s Vision 2030, a comprehensive plan to diversify Saudi’s economy away from oil dependency. This initiative aims to create over 30 million private sector jobs and foster sustainable growth. At PIF, we are not just invested in assets, we are invested in a better future. Our commitment to positive growth, trustworthiness, and purpose is evident in every decision we make. I feel truly honoured to be part of this journey, working alongside such talented and dedicated colleagues. Together, we are shaping a brighter future for Saudi Arabia and the world. This recognition reaffirms my belief in the mission and vision of PIF, and I am truly grateful for the opportunity to contribute to such impactful and meaningful work. Let’s continue to strive for excellence and drive positive change every day. Here’s to many more milestones and achievements together. 🙌 #PIF #Investment #SovereignWealthFund #Vision2030 #Innovation

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More insights from our Finance in MENA survey! ✨ It's been really exciting to get notifications each time a new respondent joins us. So far, we’ve had CFOs and FP&A Directors from some of the biggest companies in the Middle East! Jump on and contribute @ insights.crossval.com 🔗

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Saudi aramco's corporate venture arm Aramco Ventures are building one of the largest and most active corporate investment platforms I have come across globally, and investing in AI companies that can bring strategic impact to Aramco’s different businesses, converting that strategic value into sustainable dollar figures. Aramco Ventures has 105 active portfolio companies with initiatives that include the $500m Wa'ed Ventures fund that targets #Saudi startups; the $500m Digital/Industrial Fund, investing in areas strategic to the firm; the $1bn Prosperity7 Ventures Fund I and the $2bn Prosperity7 Ventures Fund II that focus on technologies beyond the energy sector with an emphasis on financial returns; the #Sustainability Fund, which manages $1.5bn and makes impact investments; and the $2bn Late-Stage Fund, which allows Aramco Ventures to be a longer-term investor in its early-stage investments. I have also heard they are making LP commitments to sustainability-focused venture capital funds! #corporateventurecapital #saudiaramco #saudivision2030 #saudiarabia #investments #corporates #limitedpartners #institutionalinvestors #sustainability #energytransition #decarbonization #venturecapital #artificialintelligence #middleeast #capitalmarkets https://lnkd.in/grSJn4gF

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The search for a company that truly boosts your presence in the Arab market can be overwhelming, right? 🤔 At #LaMesa, we understand this challenge. Our experience has shown us that choosing the right agency is crucial for success in Dubai, which is why we focus on delivering tangible results and personalized attention tailored to the unique needs of each company. 💼✨ What benefits can we offer you? From effective marketing strategies to creative and appealing design, 🎨📈 Are you ready to position your company in the Dubai market? Schedule a meeting now! 🚀🌟 #Marketing #Branding #MarketingTips #Dubai #MarketingStrategy

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Unlocking Opportunities: 🌟 Why Saudi Arabia is the Ultimate Business Destination in 2024 🌟 Saudi Arabia has emerged as a premier business destination in 2024, attracting global investors with its dynamic economic landscape and strategic initiatives. Here’s why: Vision 2030: 🌍 Aims to boost the non-oil sector's GDP contribution from 16% to 50%. Economic Reforms: 📈 $19.3 billion in FDI in 2023, a 30% increase from the previous year. Strategic Location: 🌐 Access to a market of over 2 billion consumers within a 3-hour flight radius. Infrastructure Development: 🏗️ Over $1 trillion investment in infrastructure by 2030. Economic Cities and Free Zones: 🏙️ King Abdullah Economic City to contribute up to $100 billion to GDP by 2030. Growing Non-Oil Sectors: 🌞 $30 billion invested in renewable energy, targeting 50% energy from renewables by 2030. Young and Educated Workforce: 🎓 70% of the population under 35, with a 25% increase in STEM graduates. Investment Incentives: 💼 Over 1,200 new foreign investment projects in 2023. Cultural and Social Transformation: 👩‍💼 Women’s workforce participation increased from 20% in 2018 to 33% in 2023. Sustainability Initiatives: 🌱 Plans to plant 10 billion trees and reduce carbon emissions by 130 million tons by 2030. Saudi Arabia’s strategic initiatives, economic reforms, and ambitious development projects make it a top business destination in 2024. Are you ready to explore the opportunities? 🚀 #SaudiArabia #Business2024 #InvestmentOpportunities #Vision2030 #EconomicGrowth #MiddleEastBusiness

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🌿 It's that green time of the year again - and my favorite one! Once again having great sessions with brilliant founders in Founder Institute Founder Institute Middle East track. Their passion and dedication fuel my Mon mornings (and ofc coffee, a lot of coffee)🚀 #startup #founderinstiture #mentoring

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Very useful post which has similarities with the entire VC world here in Dubai: "throughout the months of June, July and August - Family Principles are traveling on Holidays, or working remotely from somewhere less hot to the Desert. Which means investment committee meetings might be hard to complete and when the Family Office team wants to present a very comprehensive Hedge Fund or AI Start Up, you might not have the full attention span of the Family Principle if they are in Europe with their Family and Kids." The Dubai Chapter of VNTR Capital will host the next Investor Roundtable on the 12th of June - https://lnkd.in/dZ4AjhPa, we will come back with another one on the 12th of September, but the activity inside the platform https://vntr.vc will be busier than ever during the summer! #vntrcapital #dubai #venturecapital

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We've gathered insights from finance teams of all sizes in MENA through our State of Finance survey, and one key theme stands out: The ability to forecast their financials effortlessly. Explore more at insights.crossval.com 🔗

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🎙️ Just released a fascinating conversation with Michael Lints, Partner at Golden Gate Ventures, on The We Are Innovation Podcast. Highlights: • Deep dive into Golden Gate's new $100M MENA fund based in #Qatar • VC landscape in the post-zero interest rate era • Key traits of successful founders Michael's 20+ years of experience across two continents offer invaluable insights for entrepreneurs and investors alike. #VentureCapital #Entrepreneurship #Innovation #Podcast Listen now: https://lnkd.in/d4mgande

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Saudi Arabia’s startup ecosystem has affirmed its leading position in the funding space, capturing over 53 percent of the region’s venture debt financing in 2023, according to MAGNiTT’s latest report. The venture data platform revealed that Saudi startups raised a total of $400 million in venture debt last year, a 602 percent growth compared to $57 million in 2022. Venture debt is a type of financing for early-stage companies that complements equity funding. It includes growth capital for expansion, equipment financing for asset acquisition, and accounts receivable financing for managing cash flow. The Middle East and North Africa region saw a total of $757 million in venture debt financing in 2023, a 262 percent year-on-year growth. The UAE followed Saudi Arabia with a total of $353 million in financing in 2023, a 222 percent yearly increase. Egypt came in third with $4 million, an 86 percent annual drop. Fintech emerged once again as the sector of choice for investors, accumulating $601 million in financing, a 325 percent yearly increase. #MENA #GCC #Investment #fundraising #Startups #Venturedebt #privatequity #Venturecapital #Saudiarabia #UAE #Egypt

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Should investors adopt a "til death do us part" approach? It seems that everyone believes they have the gift of foresight in today's investing landscape. Few want to admit that their strategy can be boiled down to a scattergun approach in the hopes that a few bets hit big to compensate for the countless others than don't. This is particularly baffling when there are companies whose profitability and future successes seem to be all but in plain sight, thus negating the need to look for returns anywhere else. To find my column for Gulf News - which addresses this phenomenon in more detail - the link is attached below. https://lnkd.in/dnZiv3FX      #uae #dubai #abudhabi #dfm #adx #stocks #stockmarket #education #technology #edtech #finance #financenews #news #equity #equityinvestment #equitymarket #capitalmarket #uaecapitalmarket #business #economics #investmentopportunity #mena #menanews #middleeast #middleeastnews #ipo #schools #value #valuecreation #valueinvesting #valueinvestment #growth #gems #dividends #dividendpolicy #capitalgains #shareholders #shareholdersequity #dividendyield #gulfnews #gcp #sameerlakhani #shareholdervalue #forbes #google #blackberry #apple #nvidia

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🚀 Exciting news from Saudi Arabia's startup scene: I'm thrilled to share that Sanabil Investments has chosen Stryber as their trusted partner to launch and manage their first Venture Studio. Since its quiet inception at the start of 2023, the Studio has actively invested $14 million in its inaugural year. Our Venture Studio is committed to fostering scalable tech ventures and boosting the Saudi startup landscape. We've concentrated our initial efforts on sectors like fintech, consumer products, and tourism & leisure. On this special one-year anniversary, it's a privilege to publicly celebrate our collaboration. This partnership reflects the deep trust that Sanabil, and particularly Sarah AlMubarak, have in our team. I look forward to continuing our work together to strengthen the startup ecosystem in Saudi Arabia and create new opportunities for tech talent across the Kingdom. Curious about our Venture Studio? Looking for a role in a thrilling new venture? 🔗Find the link in the comments to learn more! #venturebuilding #saudiarabia #startups #MENA #businessgrowth #entrepreneurship #careers #technology #venturecapital #innovation

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MENA startups raise $282 million in May 2024, recording 413% MoM growth ⤴ According to Wamda Capital the investment value experienced a substantial surge in May 2024. A total of 40 MENA startups managed to raise $282 million, which is a staggering 413% increase compared to April's $55 million. This growth was mainly driven by debt financing, which accounted for almost $140 million of the total amount raised.

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