1. Deals Analysis
December 22, 2021

Technology industry venture financing deals total $1.1bn in Middle East and Africa in November 2021

By Carmen

Total technology industry venture financing deals worth $1.1bn were announced in Middle East and Africa in November 2021, led by $75m venture financing of Overwolf, according to GlobalData’s deals database.

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The value marked an increase of 6.8% over the previous month of $1.03bn and a rise of 48.4% when compared with the last 12-month average of $741.38m.

Middle East and Africa held a 3.09% share of the global technology industry venture financing deal value that totalled $35.64bn in November 2021. With a 2.21% share and deals worth $786.8m, Israel was the top country in Middle East and Africa’s venture financing deal value across technology industry.

In terms of venture financing deal activity, Middle East and Africa recorded 95 deals during November 2021, marking an increase of 26.67% over the previous month and a rise of 63.79% over the 12-month average. Israel recorded 34 deals during the month.

Middle East and Africa technology industry venture financing deals in November 2021: Top deals

The top five technology industry venture financing deals accounted for 31.4% of the overall value during November 2021.

The combined value of the top five technology venture financing deals stood at $345m, against the overall value of $1.1bn recorded for the month.

The top five technology industry venture financing deals of November 2021 tracked by GlobalData were:

1) a16z,Griffin Gaming Partners Management,Intel Capital,Liberty Technology Venture Capital and Marker $75m venture financing deal with Overwolf

2) The $74m venture financing of TriEye by Allied Group,Deep Insight,Discount Capital,Grove Ventures,Intel Capital,M&G Investments,Marius Nacht,Porsche Ventures,Samsung Ventures Investment,Tawazun Strategic Development Fund and Varana Capital

3) Africinvest,Allan Gray Africa Equity Fund,CommerzVentures,Endeavor Catalyst,Endeavor Global,Goodwell Investments,LUN Partners Group and ShoreCap III $70m venture financing deal with MFS Africa

4) The $70m venture financing of AcroCharge by David Marcus,F2 Venture Capital,Gokul Rajaram,Jacqueline Reses,Oak HC/FT Partners and Zeev Ventures

5) Insight Partners and YL Ventures GP $56m venture financing deal with Cycode

Verdict deals analysis methodology

This analysis considers only announced and completed cloud-deals 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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