Saudi venture capital funds to tap into FinTech, e-commerce, health segments in 2021

Venture capital (VC) activity grew significantly in Saudi Arabia in recent years, with start-ups recording a 55 percent year-on-year (YoY) jump in funding in 2020, according to a recent report by MAGNiTT.

In the wake of COVID-19, a few sectors in the Kingdom emerged as frontrunners for VC funding as the pandemic rapidly accelerated the adoption of technology and fuelled the rising entrepreneurship ecosystems.