1. Deals Analysis
May 11, 2021

Technology industry venture financing deals total $1.94bn in Middle East and Africa in Q1 2021

By Carmen

Led by $208m venture financing of DriveNets, total technology industry venture financing deals worth $1.94bn 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 32% over the previous quarter and a rise of 79.6% when compared with the last four-quarter average of $1.08bn.

Middle East and Africa held a 2.59% share of the global technology industry venture financing deal value that totalled $75.02bn in Q1 2021. With a 2.20% share and deals worth $1.65bn, Israel was the top country in Middle East and Africa’s venture financing deal value across technology industry.

In terms of deal activity, Middle East and Africa recorded 157 deals during Q1 2021, marking an increase of 14.60% over the previous quarter and a rise of 27.13% over the last four-quarter average. Israel recorded 71 deals during the month.

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

The top five venture financing deals accounted for 36.2% of the overall value during Q1 2021.

The combined value of the top five technology venture financing deals stood at $700m, against the overall value of $1.94bn recorded for the quarter.

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

1) Atreides Management, Bessemer Venture Partners, D1 Capital Partners and Pitango Venture Capital’s $208m venture financing of DriveNets

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

3) CyberStarts, Index Ventures, Insight Partners and Sequoia Capital Operations’ $130m venture financing of Wiz

4) The $120m venture financing of Cyesec by 83North Venture Capital and EQT Partners

5) Bessemer Venture Partners, BlueRed Partners, Dynamic Loop Capital, Insight Partners, New Era Capital Partners, Pitango Venture Capital and Verizon Ventures’ venture financing of Optibus for $107m.

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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