MUST-READS

• MENA private equity hits $27.6bn as Saudi Arabia leads growth

  Saudi Arabia overtook the UAE in 2023, accounting for 41 percent of transactions, driven by Vision 2030 and increased sovereign wealth fund activity. Together, both markets made up 68 percent of regional private equity transactions, with the UAE securing $13.5bn in deal value and Saudi Arabia $11bn. In 2024, Saudi Arabia contributed more than half of total private equity investment. Private equity activity peaked at 97 deals in 2022 before declining in 2023 and 2024. Deal volume fell 24 percent last year as investors adjusted to rising interest rates and weaker debt markets. While global private equity rebounded in 2024, MENA investors remained cautious, prioritizing strategic growth investments over leveraged buyouts.

• Saudi Arabia tops MENA for venture capital investment in 2024

  Saudi Arabia maintained for the second year its top position across MENA region in terms of the amount of venture capital (VC) funding. The Kingdom held more than 40% of VC investments in the region, or $750 million, in 2024, according to venture data platform MAGNiTT. The United Arab Emirates (UAE) came second with $613 million. The value of venture investments in Saudi Arabia was down 44% in 2024, driven by an 85% year-on-year (YoY) decline in the value of mega deals (deals exceeding $100 million). According to the Saudi VC Report for 2024, VC deals hit a record high during the period, reaching 178, up 16% YoY, driven by increased early-stage activity.

• PIF’s $1bn Dazn deal creates new Mena sports streamer

  Surj Sports Investment, a unit of Saudi’s Public Investment Fund (PIF), has acquired a minority stake in UK-based global sports network Dazn. The deal, believed to be worth $1 billion, will establish new broadcasting joint venture Dazn Mena, which the companies say will broadcast live and on-demand sports from Saudi Arabia. The partnership will also capitalise “on the significant growth in demand for high-quality sports broadcasting,” the companies said – a signal that Dazn Mena could rival Qatari broadcasting giant Bein Sports. Danny Townsend, CEO at Surj Sports Investment, said the investment would help Surj “achieve its mandate of driving fan engagement, encouraging sports participation and unlocking game-changing opportunities, and further showcasing the region as a destination for world-class sports.”

• 500 Global Launches New Fund Led by Amjad Ahmad to Fuel MENA’s Next Wave of Tech Champions

  500 Global, a leading global venture capital firm, today announced the launch of 500 MENA, L.P. (the “Fund”), a new fund dedicated to investing in high-growth technology startups across the Middle East and North Africa (MENA) region both from outside and inside the current 500 Global portfolio. This strategic move positions 500 Global to support startups beyond the seed stage and aims to catalyze further the growth of the MENA region's burgeoning tech ecosystem. The Fund will invest primarily in startups with proven product-market fit and significant growth potential, addressing the critical funding gap MENA founders face, particularly in the expansion stage. 500 Global aims to actively support these companies through their extended international network and comprehensive platform, empowering them to build and scale innovative solutions regionally and globally.

• Saudi Arabia Achieves Record Number of Venture Capital Deals, Maintains First Rank Across MENA

  The 2024 Saudi Arabia Venture Capital Report revealed that Saudi Arabia achieved a record number of 178 venture capital (VC) deals in 2024, accounting for 31% of the MENA region’s total number of deals. The Kingdom also maintained its first rank across the MENA region in terms of VC funding for the second year in a row. The report published today by the venture data platform MAGNiTT and sponsored by SVC also reveals a 34% increase in funding for VC deals in the Kingdom valued at less than $100 million (SAR375 million) in 2024 compared to 2023. This growth indicates a positive trend towards supporting early-stage startups, enhancing the opportunities for the Kingdom’s VC ecosystem to progress to later stages.

• IMF lowers 2025 Mena growth forecast on slowing Saudi economy

  The International Monetary Fund on Friday lowered its growth forecast for the Middle East and North Africa this year, largely reflecting a slowdown in Saudi Arabia's economy due to Opec+ production cuts. The broader Mena economy is projected to grow by 3.5 per cent this year, according to the IMF's latest World Economic Outlook, half a percentage point down from its October update. Saudi Arabia, the biggest Arab economy and Opec’s top oil producer, is forecast to grow by 3.3 per cent in 2025, a downwards revision of 1.3 percentage points. Its economy is projected to grow by 4.1 per cent in 2026, which is down by 0.3 percentage points from the fund's October forecast.

• MENA Countries Face Complex Challenges

  Middle Eastern and North African (MENA) countries confront a complex mix of domestic, regional, and international challenges. The incoming administration of President-elect Donald Trump is expected to bring major changes to US foreign policy towards MENA governments and in terms of American engagement on pressing regional issues. Wealthy and stable MENA countries are cautiously seeking opportunities with international partners outside the volatile region, primarily driven by domestic imperatives. The most dramatic development of late 2024 involved the spectacular collapse of the regime of Bashar al-Assad in Syria, where a rebel offensive led by Hayat Tahrir al-Sham (HTS) toppled his dictatorship after a grueling 14 years of civil war. Syrians now confront the challenges of forming an inclusive and stable government, addressing mounting humanitarian needs, and initiating economic recovery efforts.

• Saudi Arabia drives MENA e-commerce growth during festive season: Report

  A joint study by Flowwow and Admitad found that during the 2024 holiday season, Saudi Arabia was a major factor in the 44% increase in e-commerce orders throughout the Middle East and North Africa (MENA) region. Gifting, cultural celebrations, and mobile shopping trends all contributed to the spike. Around 62% of online purchases in Saudi Arabia were made on mobile devices, making it the country with the highest adoption rate of mobile commerce. The MENA e-commerce market is predicted to grow significantly and reach USD 50 billion by 2025, according to the report. Activity in this market significantly increased over the holiday season.

• Imax CEO Richard Gelfond on Launching the Company’s First Arabic Film and Expanding Its Footprint in Saudi Arabia and the MENA Region

  In what amounts to a milestone for the Middle East, Imax has announced plans to release its first-ever Arabic-language feature film. It’s a comedy titled “Ambulance” led by Saudi star Ibrahim Hajjaj, whose 2023 wrestling movie “Sattar”is Saudi Arabia‘s highest grossing local title. The announcement was made by Imax CEO Richard Gelfond during the grand opening on Wednesday of a new Imax theater in the Saudi city of Jeddah, which featured screenings of “Gladiator II” and “Moana 2.” The event took place on the eve of the Red Sea Film Festival, which will open Thursday with Gelfond in attendance.

• How to fund and launch your business in Mena and beyond

  In the early days, angel investors – friends, family and early believers – might help with small, first-round funds, covering initial tech, product development, or team basics. This initial funding is essential to get things off the ground, as I learned through our first round with angels, who provided the cash to build our tech platform and assemble our team. Then comes seed funding, which is the first real step into venture territory, where you need to show early traction and a solid market entry plan. If you’re on the right track, you’ll progress to Series A – the realm of serious venture capital – where larger amounts are invested to support aggressive scaling. With each round the bar is set higher, and the scrutiny gets sharper. But for those who make it through this path can turn a solid idea into a powerful, high-growth business.

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