Total technology industry venture financing deals worth $492.3m were announced in Middle East and Africa in November 2022, led by $150m venture financing of Fenix Games, according to GlobalData’s deals database.

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The value marked a decrease of 1.1% over the previous month of $497.72m and a drop of 50.2% when compared with the last 12-month average of $989.3m.

Middle East and Africa held a 5.80% share of the global technology industry venture financing deal value that totalled $8.49bn in November 2022. With a 1.88% share and deals worth $159.9m, 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 49 deals during November 2022, marking an increase of 13.95% over the previous month and a drop of 26.87% over the 12-month average. Israel recorded 17 deals during the month.

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Middle East and Africa technology industry venture financing deals in November 2022: Top deals

The top five technology industry venture financing deals accounted for 57.9% of the overall value during November 2022.

The combined value of the top five technology venture financing deals stood at $285m, against the overall value of $492.3m recorded for the month.

The top five technology industry venture financing deals of November 2022 tracked by GlobalData were:

1) Cypher Capital and Phoenix Group’s $150m venture financing deal with Fenix Games

2) The $50m venture financing of Beekeeper by Alpana Ventures, Energize Ventures, Expara Ventures, Keen Venture Partners, Kreos Capital IV, Swisscanto Invest, Thayer Fund VI and Verve Capital Partners

3) Alpha Wave Ventures and Nokia Growth Partners’s $33m venture financing deal with Dataloop

4) The $32m venture financing of Ramani by Flexcap Ventures Management and Jared Schreiber

5) Knollwood Investment Advisory and Valar Ventures’s $20m venture financing deal with Baraka Financial