Saudi Venture Capital Company (SVC) is a Government VC established in 2018 by Monshaat as part of the Financial Sector Development Program (FSDP)
to stimulate venture investments by investing in funds as well as co-investing with angel groups for the primary goal of minimizing financing gaps for startups
and SMEs by investing SAR 2.8 Billion ($750 Million).
Executive Summary
2021 proved to be a record year of venture activity in Saudi Arabia, with an all-time high $548M raised across 139 deals
The funding deployed into Saudi Arabian startups in 2021 grew by 270% versus 2020, while the number of VC deals rose by 54% yearover-
year. The second half of 2021, in particular, saw more deals closed and funding raised than in any previous half-year period.
Fintech led deal activity while E-commerce startups raised the most capital in Saudi Arabia in 2021
While Fintech startups accounted for 19% of all transactions registered in Saudi Arabia in 2021, E-commerce startups accounted for 31% of
capital deployed in the country in the year. However, 62% of the $170M deployed into E-commerce was raised by just one startup Sary.
A record-high 76 investors participated in deals closed by Saudi-based startups in 2021
The number of investors that financed Saudi-based startups increased by 52% since 2020, to hit a record-high of 76 in 2021. The participation of
non-MENA investors, too, reached an all-time-high as they made up 25% of all investors that financed Saudi-based startups.
The $125M round closed by Enterprise Software startup Unifonic marked the first ever mega-deal ($100M+) recorded in Saudi Arabia
This $125M transaction alone accounted for almost a fourth (23%) of the total venture capital deployed in Saudi Arabia in 2021. The five largest
deals closed in the country in 2021 together raised 50% of the total capital invested in Saudi-based startups in 2021.
Saudi Arabia overtook Egypt to rank second by funding in MENA, driven by a 270% increase in capital year-over-year
Startups in Saudi Arabia raised 21% of the $2.5B invested in venture capital across the MENA region in 2021, up from a share of 15% in 2020.
The growth in funding in Saudi Arabia between 2020 and 2021 was the largest noted amongst the three most active MENA countries
