Egypt Surpasses The half-a-billion Mark in Funding ??

?? 2022 brought Egypt new record funding as the country reigned on top of the MENA regions in the number of deals closed.

?? Venture funding in Egypt surpassed the half-a-billion mark despite the absence of any MEGA rounds for the second year in a row, with an uptick of 3% from its 2021 value.

?? We map the evolution of Egypt’s VC ecosystem over the years in our 2022 Egypt Venture Capital Report, with the support of the Information Technology Industry Development Agency, ITIDA

?? Key Highlights:

• Mirroring the trend seen across the Middle East and Africa, the Egyptian ecosystem saw a record-high number of 17 exits, more than double the number recorded in 2021. Exits in Egypt represented 24% of the all-time-high 70 exits reported in the MENA region in 2022.

• Egypt’s share in the number of deals expanded by 1PP in 2022, as its rank shifted from second to first.
• Egypt also maintained its rank as second in the total number of deals closed in Africa in 2022. The country was surpassed by Nigeria which captured a share of 29%.

• The top 5 deals in Egypt contributed to one-third of the total Venture Capital raised in the country in 2022: Paymob , MaxAB , Money Fellows , Brimore , Lucky ONE .
• E-commerce and FinTech startups accounted for the top 5 deals recorded in Egypt.

?? If you'd like to access?all of the MAGNiTT reports that are published,?click here?to view?our suite of 2023 Venture Investment Reports including our flagship?2023?Emerging Venture Markets Report.?Share your thoughts with us on:?Twitter???Instagram???Facebook.

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