After the Saudi economic movement “with the launch of many government initiatives stimulating the venture investment system and emerging companies within the framework of the Kingdom’s Vision 2030, the development of the legislative and regulatory environment for the system, and the emergence of increasing numbers of active investors from the private sector and innovative entrepreneurs,” the Kingdom of Saudi Arabia topped the first place according to the data issued. From MAGNiTT, it acquired the largest share, which amounted to 52%, of the total venture investment in the Middle East and North Africa region in 2023, compared to 31% in 2022, and the Kingdom achieved growth in the total venture investment by a rate of 33% in 2023 compared to 2022.
The data showed that during the first half of 2023, the record for venture investment in mega deals in the Kingdom, which amounted to $289 million, was exceeded, as two huge deals were recorded, which in turn accounted for 65% of the total, which is $156 million in the Floord deal (35% of the total deals). $133 million mint deal (30% of total deals).
Venture investment or (venture investment) is a form of financing that provides funds to startups that have high growth potential in the early stages, in exchange for a share of ownership, as startups and entrepreneurs rely on venture investments as an important source of funding. Venture investment does not always take the form of cash, but rather can be in the form of technical or administrative expertise. Vulture investing is usually reserved for small companies with exceptional growth potential, or companies that have grown rapidly and are poised to continue expansion.
This result and the economic prosperity in the field of venture investment confirms the strength and durability of the Saudi economy, which is a member of the “BRICS” group, which represents one of the strongest economic groupings in the world, and confirms the achievement of the strategy and objectives of the Saudi Venture Investment Company by contributing to the growth and diversification of the Saudi economy, in addition to enabling and supporting enterprises. Small and medium enterprises and encourage them to explore new fields and graduate more entrepreneurs in several ways, one of which is providing the necessary support and investment in small and medium enterprises.