Saudi Arabia Trails Only Singapore in Emerging Market VC Funding Race
- Saudi Arabia raised $412 million in VC funding in first half
- Singapore had three mega deals, defying industry trends
Saudi Arabia ranked second across the emerging-market venture capital space in the first half of 2024, trailing only Singapore, according to VC data firm Magnitt.
Software startup Salla raised $130 million in the period, boosting the kingdom’s venture capital fundraising to $412 million — the highest in the Middle East and North Africa, the Dubai-based company said.