1. Deals Analysis
October 25, 2021

Technology industry cross border venture financing deals total $868.5m in Middle East and Africa in September 2021

By Carmen

Total technology industry cross border venture financing deals worth $868.5m were announced in Middle East and Africa in September 2021, led by $130m venture financing of Lightricks, according to GlobalData’s deals database.

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The value marked an increase of 179.9% over the previous month of $310.3m and a rise of 52.03% when compared with the last 12-month average of $571.3m.

Middle East and Africa held a 5.67% share of the global technology industry cross border venture financing deal value that totalled $15.32bn in September 2021. With a 4.43% share and deals worth $678m, Israel was the top country in Middle East and Africa’s cross border venture financing deal value across technology industry.

In terms of cross border venture financing deal activity, Middle East and Africa recorded 29 deals during September 2021, marking a decrease of 19.44% over the previous month and a drop of 25.64% over the 12-month average. Israel recorded 15 deals during the month.

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

The top five technology industry cross border venture financing deals accounted for 55.8% of the overall value during September 2021.

The combined value of the top five technology cross border venture financing deals stood at $485m, against the overall value of $868.5m recorded for the month.

The top five technology industry cross border venture financing deals of September 2021 tracked by GlobalData were:

1) Altshuler Shaham Group,Clal Tech,Goldman Sachs Asset Management,Greycroft Ventures,Hanaco Ventures Capital,Harel Insurance Investments and Financial Services,Insight Partners,Migdal InsuranceLtd. and Shavit Capital Fund $130m venture financing deal with Lightricks

2) The $125m venture financing of Unifonic by Sanabil Investments and SoftBank Vision Fund 2

3) Menorah Manor,Mivtach Shamir Holdings,MoreTech Ventures,PayPal Ventures,Pitango Venture Capital,SoftBank Vision Fund 2 and State of Mind Ventures $100m venture financing deal with StreamElements

4) The $75m venture financing of Mobius Solutions by Summit Partners

5) Altair.VC,Battery Ventures,Greenfield Partners,Group 11,Icon Ventures and Local Globe $55m venture financing deal with EquityBee

Verdict deals analysis methodology

This analysis considers only announced and completed 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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