Middle East and Africa’s technology industry saw a drop of 64.41% in cross border deal activity during July 2022, when compared with the last 12-month average, led by Ahren Innovation Capital, Amnon Shahua, Mark Leslie, Pitango Venture Capital, TPY Capital and Walden Catalyst Ventures’ $64m venture financing deal with AI21 Labs, according to GlobalData’s deals database.

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A total of 21 technology industry cross border deals worth $203m were announced for the region in July 2022, against the 12-month average of 59 deals.

Of all the deal types, venture financing saw most activity in July 2022 with 18 transactions, representing an 85.7% share for the region.

In second place was M&A with three deals capturing a 14.3% share of the overall cross border deal activity for the month.

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In terms of value of cross border deals, venture financing was the leading category in Middle East and Africa’s technology industry with $203.02m.

Middle East and Africa technology industry cross border deals in July 2022: Top deals

The top five technology cross border deals accounted for 88.2% of the overall value during July 2022.

The combined value of the top five technology cross border deals stood at $179m, against the overall value of $203m recorded for the month.

The top five technology industry cross border deals of July 2022 tracked by GlobalData were:

1) Ahren Innovation Capital, Amnon Shahua, Mark Leslie, Pitango Venture Capital, TPY Capital and Walden Catalyst Ventures $64m venture financing deal with AI21 Labs

2) The $41m venture financing of YAP Holding by AlJazira Capital, Astra Group, Audacia Capital and Ismail Ali Abudawood Trading

3) AnD Ventures, Corner Ventures, Playtika Holding and Stardom Ventures $30m venture financing deal with Edge Gaming

4) The $25m venture financing of Deci.AI by Emerge, Fort Ross Ventures, ICON, Insight Partners, Jibe Ventures and SquarePeg

5) Kaedan Capital, Operator Partners, Schusterman Family Investments, Square Peg Ventures and Target Global $19m venture financing deal with Voyantis