风险状况2023年第3季度报告：中东和北非（英）

State of Venture.MENA. Q3 2023Data and analysis on dealmaking, funding, and exits by private market venture companies in the Middle East & North Africa.TLDRState of Venture Q3’23: Middle East & North AfricaMENA funding continues to slow down in Q3’23. But other indicators are looking up.-24%QoQ funding drop in Q3’23 — the third straight decrease. Dealmaking continued to slow down in MENA. Funding dropped 24% QoQ to hit $340M in Q3’23, marking the region’s third straight quarterly funding drop.Despite the broader decrease, fintech experienced a 56% funding jump QoQ, while digital health saw funding rise from $2M to $15M over the same period.37%United Arab Emirates funding share in Q3’23.Among evaluated countries, the UAE secured the most funding in Q3’23, drawing $127M across 29 deals. However, both totals represent a QoQ decline. Competition for funding among MENA countries remains strong. The UAE, Saudi Arabia, and Turkey have all taken turns leading the region in quarterly funding since 2022.$30MMedian deal size for late-stage deals in 2023 YTD.Late-stage deals are holding strong in MENA. While early-and mid-stage deal sizes are down vs. 2022 levels, median late-stage deal size is up 200% in 2023 YTD.Still, late-stage deals have only accounted for 5% of deals in 2023 so far. The vast majority (85%) of deals have been early-stage in 2023 YTD — and the median deal size at this stage is down 17% vs. 2022.19Months from Series B to C. Mid-stage fundraising is quickening. Mid-stage companies are raising faster in 2023 YTD vs. 2022. The median number of months between Series B and C rounds in MENA sits at 19 in 2023 YTD, down from 22 in 2022. However, it’s taking longer for startups to reach mid-stage status. The median number of months from Series A to B rose from 19 to 40 over the same period.13M&A deals in Q3’23, a 46% drop QoQ.After holding steady in Q2’23, M&A deals fell by 46% QoQto hit 13 in Q3’23. This marks a 67% drop from its peak of 39 deals in Q1’22.Companies in major MENA dealmaking countries (i.e., Saudi Arabia, the UAE, and Turkey) were involved in region’s biggest M&A deals in Q3’23. Two Turkey-based companies secured top M&A deals: one in HR tech and one in online research.$0.7B$0.3B$0.1B$0.2B$0.3B$0.5B$0.3B$0.2B$1.1B$1.2B$1.9B$0.7B$2.2B$1.2B$0.5B$1.3B$1.0B$0.4BFunding$0.3B114929813911299113121170206182208247181146188176159Deals110050100150200250300$0.0B$0.5B$1.0B$1.5B$2.0BQ1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q320192020202120222023Funding QoQDeals QoQ-24%-31%MENA funding and deals decline for third straight quarterDisclosed equity funding & dealsState of Venture Q3’23: Middle East & North Africa$15M$65M$100M$2M$72M$64M$0M$100M$200M$300M$400M$500M$340M$448M$0M$100M$200M$300M$400M$500MDigital healthRetail techFintechVentureState of Venture Q3’23: Middle East & North AfricaFintech leads sectors in total funding in Q3’23Disclosed equity funding by sector, Q2’23 – Q3’23VentureFintechRetail techDigital healthQ3’23Q2’23-10%QoQ-24%QoQ+56%QoQ+6