MENA has emerged as a vibrant hub for innovation and entrepreneurship, fostering a dynamic landscape for startups. Over the past decade, venture capital has played a pivotal role in fueling this growth, providing essential funding and strategic support to fledgling businesses.

MENA’s startup ecosystem raised $1.3 billion through 352 deals in the first nine months of 2024, a slight dip from the same period last year. However, investor confidence surged, with a 34% increase in unique backers to 386 investors. Saudi-based startups led the region, capturing 39% of the total funding, according to MAGNiTT.

The top venture capital firms in the region are distinguished not only by their financial contributions but also by their commitment to nurturing startups and driving economic development. These companies have developed a keen eye for promising sectors, including fintech, health tech, e-commerce, and renewable energy. MENA’s unique blend of cultural diversity, technological advancement, and a youthful population has ultimately attracted a wave of investors eager to capitalize on the region’s burgeoning potential.

Our list of the Middle East’s Top Venture Capitalists for 2024 features the top leaders of the region’s most active VC firms, highlighting their strategies, key investments, and the impact they have on the startup community. Of the 30 entries, Saudi Arabia takes the lead with 11 entries, followed by the U.A.E with 10. Two VC firms are dual headquartered in Saudi Arabia and the U.A.E., with Egypt, Jordan, and Kuwait following with four, two, and one firms each, respectively.