Total technology industry cross border venture financing deals worth $349.1m 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 an increase of 2.2% over the previous month of $341.45m and a drop of 60.02% when compared with the last 12-month average of $873.01m.

Middle East and Africa held a 9.09% share of the global technology industry cross border venture financing deal value that totalled $3.84bn in November 2022. With a 3.91% share and deals worth $150m, Bahrain was the top country in Middle East and Africa’s cross border venture financing deal value across technology industry.

In terms of cross border venture financing deal activity, Middle East and Africa recorded 27 deals during November 2022, marking an increase of 12.50% over the previous month and a drop of 43.75% over the 12-month average. Israel recorded ten deals during the month.

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

The top five technology industry cross border venture financing deals accounted for 77.8% of the overall value during November 2022.

The combined value of the top five technology cross border venture financing deals stood at $271.5m, against the overall value of $349.1m recorded for the month.

The top five technology industry cross border 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 $20m venture financing of Baraka Financial by Knollwood Investment Advisory and Valar Ventures

5) Amiti Capital, Insight Partners and NFX Capital Management’s $18.5m venture financing deal with Veriti Security