The top 50 Middle East & North Africa venture investors

In the rapidly evolving world of venture capital, the Middle East and North Africa (MENA) region has become a hotbed of activity, with over 1,300 investors backing equity deals in the last year. This competitive landscape has forced top firms to strategically position themselves to stand out and capture outsized returns. Among these firms, Aramco Ventures has emerged as a leader, aggressively pursuing deals in high-growth areas such as manufacturing, AI, and healthcare.

Using data from CB Insights, we analyzed the performance of these investors to identify the top 50 venture investors in the MENA region. The list highlights the strategic positioning of these firms and their focus on high-growth sectors. The key takeaway from the analysis is that Aramco's venture arms claim the top three spots, showcasing the energy giant's dominance in the region.

Aramco Ventures, the multi-stage fund, leads the ranking with 100 startup deals since 2023 (as of December 31, 2025). This is followed by Prosperity7 Ventures, a diversified growth fund with notable investments such as Uniphore Series F and TensorWave Series A. WAED Ventures, a Riyadh-based fund focused on the Saudi ecosystem, rounds out the top three, with portfolio companies like Lucidya and Rewaa.

The analysis also reveals that nearly half of the top MENA investors are located in the United Arab Emirates (UAE), including Kube VC (#5) and Wamda Capital (#6). Saudi Arabia follows with 12 investors, some of which are backing Saudi Vision 2030 diversification efforts, such as STV and WAED Ventures. Turkey rounds out the top three countries with 11 investors.

Riyadh-based STV is among the leaders in terms of the quality of its recent investments. Its investments since 2023 have a higher average Mosaic score (742 out of 1,000) than any other investor on the list. Top performers in its portfolio include Tabby, a BNPL platform that has partnered with Checkout.com and UAE's Ministry of Finance, and Foodics, a point of sale system that reported $6 billion in gross merchandise volume last July.

Aramco Ventures also boasts an impressive exit track record, further solidifying its position as a top player in the MENA venture capital scene. The list underscores the importance of strategic positioning and a focus on high-growth sectors for investors looking to succeed in this competitive landscape.

For venture firms looking to ensure their full portfolio is represented in the analysis, CB Insights encourages them to reach out to analyst@cbinsights.com to set up a review of their investments. By staying updated on the deals made by these top investors, observers can gain valuable insights into the evolving MENA venture capital market and the sectors poised for growth.