UAE Tech Podcast: Philip Bahoshy On Venture Capital, Data & Investor Sentiment In the GCC

One reasons for a lack of outside investment in the Middle East tech industry is a lack of reliable data. Over the past decade Venture Capital (VC) has been slowly transforming the SME space, but mapping this process hasn’t always been easy.

We’ll be going into a deep-dive into the kind of investment data that less than a decade ago, simply did not exist.

That’s why this week we’re talking with Philip Bashosy, the founder of MAGniTT, to explore MENA’s increasingly confident venture capital (VC) industry. We’ll be going into a deep-dive into the kind of investment data that less than a decade ago, simply did not exist. How has has COVID-19 affected investor sentiment in the region? How have entrepreneurs been affected? Why are pre-existing trends in E-commerce and FinTech accelerating across the region?

The discussion with Bashosy focuses on three recently produced reports from the MAGNiTT team: the H1 2020 MENA Venture Snapshot, H1 2020 Sentiment Report and H1 2020 Saudi Venture Capital Snapshot.

in 2020 the top 5 funding rounds account for 49% of all funding in the first half of the year, with 3 out of the 5 deals taking place before the outbreak of COVID-19

There’s definitely some surprising data out there to explore. For instance, in 2020 the top 5 funding rounds account for 49% of all funding in the first half of the year, with 3 out of the 5 deals taking place before the outbreak of COVID-19.

A total of $659M has been invested in MENA-based startups this year — that’s 95% of the total 2019 funding, already. Since COVID-19 60% of founders are facing revenue decrease and a subsequent lack of cash. Saudi Arabia’s startups saw $95M of venture funding (up 102%).

Curious? Check out the episode on Spotify and iTunes for a perspective on VC in the region that is both technical and specific, at the same time as providing a fascinating panorama on the technologies, capital and investors driving future trends.