With the digital landscape of the Middle East constantly changing, startups are on their feet, finding investors for every round of funding. The good news is that with startups on a fund-raising spree, investors in the Middle East are also multiplying. While many investors in the Middle East and North Africa (MENA) region collectively agree that technology is the new oil in the Middle East, this makes the funding crisis a lot lower in the Middle East.
Faster Capital is an online incubator and accelerator for small businesses, entrepreneurs, and startups. They claim to match early-stage startups or startups in the seeding stage with angel investors, venture capitalists, government funds, banks, loans, etc. depending on your pitch and requirements. They also declare that they will help your startup with its pitching approach and help you strategize your funding plans.
Based in Dubai Internet City, Faster Capital has helped more than 280 startups in its acceleration program and allows four rounds of funding per year. For somebody who’s looking for a tech partner or is trying to grow their startup, applying to these funding rounds is absolutely free!
VentureSouq focuses on investing in and raising capital for early-stage startups. AgTech, FoodTech, EnvironmentalTech, HealthTech, EdTech, and Financial Inclusion startups are a few of the startups, that VentureSouq invests in. This venture capital firm has 16 rounds of funding per year! Founded in 2015, VentureSouq invests in startups based in the UAE, Egypt, and Saudi Arabia. VentureSouq claims to be investing in fintech companies that they think have the potential to be fintech unicorns.
Wamda Capital is yet another venture capital firm investing in exceptional entrepreneurs in highly promising tech sectors. Wamda Capital claims to take your early-stage business through a series of investments, beginning from the growth and seed stage and continuing through successive rounds till the final stage. Their primary company, Wamda, is an accelerator for entrepreneur ecosystems, and Wamda Capital is an investment firm that focuses on tech-enabled startups.
Founded in 2017 with headquarters in Abu Dhabi, Shorooq Partners is said to be the first venture capital firm regulated by the Abu Dhabi Global Market (ADGM). Shorooq Partners is one of the leading investors in the MENA region, focusing on tech startups in the region, primarily fintech, platform software, and tech-enabled business services. With global corporations and individuals, their portfolio has now generated more than $2.5 billion in equity value.
Middle East Venture Partners
Yet another Middle East-focused venture capital firm is Middle East Venture Partners (MEVP). Innovative tech startups that are in their early stages of funding are what MEVP looks for. They claim to have $260 million in assets spread across four funds. MEVP is said to be the largest in the region, with its headquarters in Dubai. They’ve made over 80 investments, with their most recent one raising $10 million for Invygo, a monthly car rental application.
Long story short
With the Middle East shifting its focus to technology, tech startups are at an all-time advantage here. The infrastructure, tools, and support are given to Middle Eastern startups currently are huge, and it's best to take the bait when the economy is escalating. With the supportive environment provided to tech startups, investment firms have also expanded their domains. It’s perfect for innovative tech products like those in climate tech or the mental health sector to take the stage, as the Middle Eastern audience is quite accepting of anything new!