Led by $127m venture financing of Firebolt Analytics, total technology industry cross border venture financing deals worth $1.9bn were announced in Middle East and Africa in Q2 2021, according to GlobalData’s deals database.
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The value marked an increase of 16.9% over the previous quarter and a rise of 118.7% when compared with the last four-quarter average of $886.97m.
Middle East and Africa held a 5.77% share of the global technology industry cross border venture financing deal value that totalled $33.62bn in Q2 2021. With a 5.06% share and deals worth $1.7bn, 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 122 cross border deals during Q2 2021, marking an increase of 24.49% over the previous quarter and a rise of 67.70% over the last four-quarter average. Israel recorded 59 deals during the month.
Middle East and Africa technology industry cross border venture financing deals in Q2 2021: Top deals
The top five cross border venture financing deals accounted for 28.05% of the overall value during Q2 2021.
The combined value of the top five technology cross border venture financing deals stood at $544m, against the overall value of $1.9bn recorded for the quarter.
The top five technology cross border deals of Q2 2021 tracked by GlobalData were:
1) Angular Ventures, Bessemer Venture Partners, Dawn Capital, K5 Global, TLV Partners and Zeev Ventures’ $127m venture financing of Firebolt Analytics
2) The $120m venture financing of Wiz by Blackstone Capital Partners and Salesforce.Com
3) Aleph Venture Capital, Amiti Ventures, Liberty Venture Partners, Playground Global, Schusterman Family Investments, Third Point Ventures and Yuval Ariav’s $120m venture financing of Next Silicon
4) The $100m venture financing of Bringg Delivery Technologies by Cambridge Capital Group, GLP Ventures, Insight Partners, Next47, Pereg Ventures, Salesforce Ventures, Shmuel Harlap and Viola Growth
5) PRYTEK’s venture financing of TipRanks for $77m.
Verdict deals analysis methodology
This analysis considers only announced and completed artificial intelligence 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.