The top 50 Middle East & North Africa venture investors
Over 1,300 MENA investors backed equity deals in the last year, creating a competitive landscape where strategic positioning is crucial. To differentiate themselves, top firms like Aramco Ventures are aggressively pursuing deals in high-growth areas such as manufacturing, AI, and … The post The top 50 Middle East & North Africa venture investors appeared first on CB Insights Research .
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 secure outsized returns. Among these firms, Aramco Ventures has emerged as a leader, aggressively pursuing 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 capital firms in the MENA region. The list reflects a dynamic and competitive environment, where strategic positioning is key to building a successful portfolio.
Aramco Ventures, the energy giant's multi-stage fund, leads our ranking with 100 startup deals since 2023 (as of December 31, 2025). This impressive record highlights the firm's ability to identify and invest in promising startups. Following Aramco Ventures is Prosperity7 Ventures, a diversified growth fund with notable investments such as Uniphore Series F and TensorWave Series A. Rounding out the top three is WAED Ventures, a Riyadh-based fund focused on the Saudi ecosystem, with portfolio companies like Lucidya and Rewaa.
The UAE has nearly half of the top MENA investors, including Kube VC (#5) and Wamda Capital (#6). These firms are playing a crucial role in shaping the region's startup ecosystem. Saudi Arabia follows with 12 investors, some of which are backing initiatives aligned with Saudi Vision 2030, such as STV and WAED Ventures. Turkey rounds out the top three countries with 11 investors.
STV, a Riyadh-based investor, 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 $6B in gross merchandise volume last July.
Aramco Ventures also boasts an impressive exit track record, demonstrating its ability to navigate the complexities of the MENA venture capital landscape and deliver strong returns for its investors.
As the MENA region continues to grow and evolve, these top venture capital firms will play a critical role in shaping the region's startup ecosystem. By focusing on high-growth areas and strategic positioning, these firms are well-positioned to capture the region's immense potential and deliver outsized returns for their investors.
For venture firms looking to ensure their full portfolio is represented in CB Insights' coverage, we encourage them to reach out to analyst@cbinsights.com to set up a review. By staying informed about these top investors' deals in real time, startups and investors alike can make informed decisions and capitalize on the opportunities available in the MENA region.
