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Egypt venture capital funding tops $500M in 2022: Report

Egypt led the Middle East and North Africa in the number of venture capital deals last year, according to a report by MAGNiTT. Egypt’s overall economy continues to struggle.
Egypt finance

Venture capital investment continued to grow in Egypt last year, according to a report by MAGNiTT released Tuesday. 

Funding for venture capital in Egypt increased in 2022 for the fifth year in a row, rising 3% to $517 million in 2022. There were 160 venture capital deals in the country last year, the Dubai-based data analytics firm reported. 

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