1. Deals Analysis
May 17, 2021

Technology industry cross border venture financing deals total $1.42bn in Middle East and Africa in Q1 2021

By Carmen

Led by $135m venture financing of Aqua Security Softwere, total technology industry cross border venture financing deals worth $1.42bn were announced in Middle East and Africa in Q1 2021, according to GlobalData’s deals database.

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The value marked an increase of 72.8% over the previous quarter and a rise of 96.5% when compared with the last four-quarter average of $722.73m.

Middle East and Africa held a 5.84% share of the global technology industry cross border venture financing deal value that totalled $24.31bn in Q1 2021. With a 5.31% share and deals worth $1.29bn, Israel was the top country in Middle East and Africa’s cross border venture financing deal value across technology industry.

In terms of deal activity, Middle East and Africa recorded 94 cross border deals during Q1 2021, marking an increase of 42.42% over the previous quarter and a rise of 41.89% over the last four-quarter average. Israel recorded 52 deals during the month.

Middle East and Africa technology industry cross border venture financing deals in Q1 2021: Top deals

The top five cross border venture financing deals accounted for 39.9% of the overall value during Q1 2021.

The combined value of the top five technology cross border venture financing deals stood at $567m, against the overall value of $1.42bn recorded for the quarter.

The top five technology cross border deals of Q1 2021 tracked by GlobalData were:

1) Acrew Capital, Greenspring Associates, Insight Partners, ION Crossover Partners, Lightspeed Management Company, M12 and TLV Partners’ $135m venture financing of Aqua Security Softwere

2) The $130m venture financing of Wiz by CyberStarts, Index Ventures, Insight Partners and Sequoia Capital Operations

3) 83North Venture Capital and EQT Partners’ $120m venture financing of Cyesec

4) The $107m venture financing of Optibus by Bessemer Venture Partners, BlueRed Partners, Dynamic Loop Capital, Insight Partners, New Era Capital Partners, Pitango Venture Capital and Verizon Ventures

5) Insight Partners, Israel Growth Partners, Jerusalem Venture Partners and Vintage Investment Partners’ venture financing of Earnix for $75m.

Verdict deals analysis methodology

This analysis considers only announced and completed big data deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.

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