TTT 2023 | Venture Investment Report Title liye vi) cel Markets Report BOOM oa em NOU r ati coTable of Contents 2023 Emerging Venture Markets Investment report AMAGNITT Foreword Predi EVMSummary Regional Overview Country Deep Industry Deep Dive MENA Overview Africa Overview Pakistan Overview Turkey Overview Investor Ranking About MAGNITT MethodologyForeword Mindful of the World but Focused on the Future MAGNITT’s 2023 Emerging Venture Markets (EVMs) repor Funding and deal levels in EVMs were quickly tempered by the slowdown that the global venture capital industry experiencedasa whole, amidst a backdrop of economic uncertainty and geopolitical tension. Tech companies and large corporations continue to announce layofs, while some are shutting dawn markets or entire operations, Including in Emerging Venture Markets. reflected a strong Qi for venture captain the Middle East, Africa, Pakistan and Turkey. However, this was driven by the hangover of post-pandemic positivity, which| distorted the delayed impact of lobal macroeconomic challenges and was not grounded in real-world sentiment. 7s) ed Pecos) The industry asa whole has responded to some excessive valuations, along with a momentary pullback in investing highlighting the importance of more cautious decision-making, requirement for greater due ciligence driven by deeper data analysis, and the need for robust corporate governance across the ‘entireindusty, for both startups and VCs alike. New Year, New Markets, and New Features at MAGNITT. ‘We are gearing up for busy 2023 wth our continued geographic expansion, 28 we prepare to integrate data'on ventures from Southeast Asia. This will further omplement our strong foundations in Emerging Venture Markets alling cents to-compare data sets against the wore for specie country, industry, company, and ‘ecosystem benchmarking Inaction, we will reinforce our platform's coverage with more company Information, gta metres, and increasingly diverse investment data 3s we se AMAGNITT seater interest rom new types of investors which we expect to add even seater fdcionmaking volue for founders, investor, and advices wile we expore Integrating privat equity data inthe future Las, but not least, isan area that carries tremendous ovation for MAGN: predictive analytics Wilemichofcur analysis nd our tals have ben historically focused, we are introducing new algorithms to provide forward locking predictive analysis for our cents, Until then we hope yu find the data and insights inthe 2023 Venture Investment Report tobe a useful reference and we iit you to ‘explore more on the MAGNITT platform,What We Think Will Come Next Five Predictions for 2023 Valuations return to pre-pandemic norms The reduced avalaity of capa to fund an evericresing tertopvatone AS MAGNITT now ack these vation ut eros groronies. Another record year of M&A. ‘Alongside a corectioninaliations,andsven the changes ‘sthrasingfundsnan environment ot higher interest ates 3 sini RO” mare pl and ce oraz ch scauisions 28 an alternative to fundraising, This provides an Evaetartapeto snow ele, AMAGNITT Wider geographical investment divergence ther Courier nah sory enernert supper a poe tka 'SA.and the UAE wil contin tose ter program fa iecarentecononicenironnetariney tte. Increased interest from Asia ‘Sater Summit n Saul Arabia tended by Chinese Prescot i “egng and uocomingrodshows by major contereces to tat launehoad into Afra, This wil further accelerate eros-polination of companies. acuiing compatitrs for regond growth and SEED/ Series A “sweet spot” Latestage investment lb hart come by du toackof ity Inthe mart Investors il gear oko fcus onthe crrent Den ahh sae ih ey poe ek opartne Increase del flow towards starts ralsng SEED rounds or eotySMAGNITT e Advanced Analytics y, benchmarkingWebinar Looking for Opportunities Through Turbulent Times January 18th, 4 PM-5 PM GST SMAGNITT Looking for Opportunities, Through Turbulent Times Sere Cas 4PM-5PMGSTere Leh EVM SUMMARY veturseap et etre SererExecutive Summary | EVM $7.2Bn © #1,473 ed Total Funding Total Deals LMEAPT funding was down by 2% rm ts —_Transations decline by 4 n 2022. The Tevet in 2021, however auartery funding numberof eels creed faster than nee slr trends poos!_ funding causing mean ave toe fom entre cata markets Shin 2021 $59 in2022 #13 2 #144 S MEGA Deals Record Exits Despite a contactionin the vale yearon Mare este tan any previous year with Year MEGA dese managedto seca for MENA accountng for SO 2 of ee “voto funding n2022 The number rere for compan founded feo fess SfMEGA eats wavane es than 2021 rare. Turkey Leading Country in Funding & Deals Turkey topped EVM cours ith295 del followed Nariath 198delsnd Eyes wth 160 deals Turkey captired 29% of tot funda driven by tee MEGA dea The UAE Q1 Top Performing Quarter wast et peroming gure 2022 aro goal MEAP asthe ntaly Ueartites wich impacto Venture Copal ny. AMAGNITT FinTech Finech was cal the ead Ingindstry feta eng the renting for inustes forboth the numberof dese tea vate of tundig. The MEAPrin2022. OmmaneyVenture funding remained above the $7BN mark in 2022 though below its 2021 levels driven in part by a decrease in the value of late stage MEGA deals saa sas01m FofDeas I Mecas100m) Funding Amount Bh Funding Amount $ AMAGNITT2022 saw a quarter-on-quarter decline in both the number of deals and the value of funding, down from a top performing first quarter to Q3 lows in line with the global VC landscape sien $2050 S078 = sine sume tO a i I MEGA ($100M») Bh Funding Amount $ AMAGNITTort VR sae ton 2022 and 2021 reported a similar breakdown in funding size, with a continued focus of investors on investments between $1M-$5M Number of deat i s20 i ssm-sz0m simesom i s0K-sa04 AMAGNITT »Repr|EVM MEGA Dea Eeston The total number of MEGA deals in 2022 was near its 2021 highs, albeit the value of these late stage investments fell by 19% Sof MEGA Deals sssom se200 3500 (si00Me) MEGA Dea Amount AMAGNITTere vestent Report |EVM Mast Ate By Deas The ten most active investors by deals were all Venture Capital firms, nine of which invested in two or more regions AMAGNITTer EM Most Act BYE. Cpa Oxyd The ten investors who deployed the most capital accounted for a 16% share of total EVM funding in 2022 AMAGNITTExits rose by 36% year-on-year across MEAPT in 2022, making it a record year for M&A AMAGNITT “era vestnt Reger |EV Eas Most EVM geographies saw an increase in exits in 2022, with the Middle East reporting the highest number of exits AMAGNITT——— Ecosystem Insights We always hear about the Importance of data and having a data-driven culture in startups, however, the past couple of years have shown that not all founders or investors are taking enough time tounderstand their own data - from unit economics to free cash flow. 'm hoping the current market conditions hel sm reset and have a disciplined focus on the fundamentals of the businesses we're building Now more than ever, the key to unlocking value lies in the data ind we have the opportunity oF ou lifetimes to build better and stronger AMAGNITTSection 02 REGIONAL OVERVIEW shape ae iL inl pet ae errantReprReganlOvrvi| OelTHens While EVMs on aggregate saw a 4% decline in deal activity, the MENA region posted a higher year-on-year decline (-8%) in number of deals compared to Africa (-2%) AMAGNITT «EE err ivesient Regret Overview| Func Tens Regional funding remained flat year-on-year $7632 6 nay, sais sas S290 soasi S29. an a one ' MAGNITT ”ReprReganlOvrvi| OelTHens Allregions saw a strong start to the year followed by a consecutive decline in deal flow AMAGNITTEE err ivesient Regret Overview| Func Tens The second half of 2022 saw quarterly funding decline to levels dating back to early 2024 MAGNITT aerr vestent Reprint Overview| Mean Oe S26 Mean deal size across all regions saw a progressive decline through 2022, reflecting the sentiment of valuation re-adjustments to pre-pandemic norms ‘ext aan rin ona 2025, 2022 query ean oto soa same sso “ a a a ses som ™“ a |_| @ Bil ssa sso asx a ssa AFRICA 8 3 ls al 2 3 sso AMAGNITTRepr | Reganl Over Medan Ds ae Despite full year median deal size for 2022 matching 2021 figures, Q4'22 data saw the lowest recorded across all geographies, reflecting a further slowdown in Venture Capital activity ‘ext Madan on 2021 serous ee a ~ a sass sum sis “ a a - ™ = a a : an sso sim AMAGNITTSection 03 oo) eA pe) PRO ere oyepr|Couey Dep Ove Raking Dsl Turkey continued to top EVMs by the number of deals, followed by Nigeria in second which ranked first across Africa, Egypt ranked third claiming the top spot for the MENA region Turxey <0 NiceRA ast coer 0 savin 02 Kawa. VoL soumasnca V1 pana Ast oman Ast Tusia AMAGNITT »——E ‘err tvestent Reger |Conty Dep Ove Rake Fant Aton Driven by large MEGA deals, Turkey and the UAE continued to lead EVMs in funding, Saudi Arabia was the only country in the top three to see an increase in funding °c TET oS EE): (ayrankchnge 2221 19 etucing change 220621 MAGNITT »Repr|Coutey Dep Ove | Oe Trends Despite most countries seeing a decreasing trend in deal flow activity in 2022, Nigeria (11%) and Turkey (6%) both saw an increase in investment transactions AMAGNITTort |Countey Deep Ove Fung Teds While most geographies saw a decline in funding year on year, KSA’s 72% increase to $1Bn exceeded its aggregated funding for the last four years AMAGNITTRepr|Coutey Dep Ove | Oe Trends Quarterly analysis showed divergence in activity across the wider region, with most geographies showing a less active second half of 2022 AMAGNITTerr ivestent Reger |Conty Deep Dv Funders Nearly all geographies saw each of the last three quarters of 2022 lower than Q1 slit calli. Hh. \ | AMAGNITTera vstent Repr | Couey Bop Ove Mean Det The increase in funding accompanied by a drop in the number of deals pushed mean funding values up for KSA and Egypt ees a oe | ve —_— = — me = —_—_ af —E_ Zz or os a wont em = aa es = AMAGNITT ”era vestent Repr | Country Dep Ove | Medan Da sae Median levels rose across top three MENA geographies year-on-year a — snout nin one ni a a oo "I ee na = = a oe me a | = NERA i van = Pe a sas = rurale vane = = AMAGNITTSection 04 INDUSTRY 1p) 3) 3 Funding trends, ranking & comparison of the top industries across Re ew ee eee Ro‘err vestent pr ny Dep Oe Raking hy On \Tech, E-commerce and T&L continue to top industries in number of deals, with total FinTech transactions exceeding that of E-commerce and T&L combined ee TS 0 “0 an v4 vA 0 tivintce am come EEE 10 Serene AE 7% AMAGNITT (alr change 20021 (WPS ange 220024‘ere tvestent Reger nasty Dee ie Rake by Fncing Anon FinTech maintained its lead in funding in 2022, while gaming paved its way to the top five following a $255M investment in Turkey based startup Dream Games fa coos Fons V2 bevemce Ass REALESTATE At AcrucuTune st pera vs lien \wotndeg cone eat AMAGNITT *eprint De De ea Teds The top three industries saw roughly the same number of transactions year-on-year AMAGNITT »‘err tvestent Reprint Dee Oe Fung Tes E-commerce was the only industry amongst the top three to report growth in 2022, despite not closing any MEGA deal rose commence TRANSPORT LOGISTICS s2aoon szasiae s1sssne suai som MAGNITTeprint De De ea Teds Investment activity across all three industries was driven by a strong start in Q1 with a subsequent slow down in investments through 2022 AMAGNITT ”‘err tvestent Reprint Dee Oe Fung Tes Across all three industries, Q1 2022 funding almost matched the sum of the investments made in the subsequent three quarters of the year rovreca commence TRANSPORT LOGISTICS sao sean li = stan S208 Ty LP i al rt a ail ssn = oe | MAGNITTerrs Reger instr Deo Die Na De Se An increase in E-commerce mean value was driven by a retreat in the number of deals along witha yearly rise in funding ‘ext aan vin FINTECH — sis 2 as E-COMMERCE — 5201 TRANSPORT Sloot aLoaisTics AMAGNITT Vox, as9% yim 2022 quay ean ohn 024 i a = a | | a i a — =Repr nsryDep De Nn Det Median values for the top three industries reported declines between Q3 and Q4, however, posted double-digit rises between 2021 and 2022 ‘ext Madan on 2021 sum suas sume |_| = a a a sum si E-COMMERCE _ siom a | | “ a a | = ‘TRANSPORT ee coon “ a a |_| = 2022 Query ean tion FINTECH Blocistics $126 AMAGNITTDirectories Your one stop shop for raw startup Venture Capital data. Access, analyze and export information on startup funding using over 20 filters SMAGNITTEran) MENA oA AY retant SEaieieee Heer TTTExecutive Summary | MENA $3.2Bn ® Total Funding ‘The MENA regjon reported 3 record high Uy Brom 2021, The reponse (oF 5%nMEGA deal uring ana 10% 9 ‘one MEGAdeat ding #7 £ & MEGA Deals [MEGA deals ros rom thee in 2021 to ‘even n2022. Thre of thse delavereln 32 of MENA 2022 fond #627 ey Total Deals ‘ror mioredby dedines in traneactionei9 gy 9). tha UAE 119 nd SAUD #70 S Record Exits MENA saw M&A tansactins ise by 72% UAE KSA &Enypt doubles theres oy. More than 30% of MENA ent were ‘Sartipstoune eo less years aga, UAE Leading Country in Funding ayo topped MENA with 160 deals the UAE second with 153 dal & KSA hr wth 144 deals ‘encores eared eng ron even 202. unde neUne longed st ‘igh USS225n don 20% tom 2021 KSA reported aninzesbe ot 72 and stood at $987M $0K-$1M Round Size Focus ‘The beeskdon of ound ss reese an ncreseingIvestrfocs om the $1M$5M rounds MAGNITT Finech captured the lon’s share of funding inthe MENA region in 2022 witha share of 29%. Transport & Logistics ranked second with a share of 15%. Both industries reported a growth in their funding eves from 202 and had a deal among the top five inthe Feglon allof which were MEGA deals E-commerce followed with a share of 11% however its funding evel dropped compared tothe previous yea. ® @ e Fintech aL E-commerce 29% 15% 11% Bf reotnanet rains‘err vestent Report MENAIFoning ttn ‘The MENA region surpassed its 2021 level by 8%, crossing the $3BN mark and reporting an all-time high despite an 8% drop in the number of deals recorded wo _ sya ssosms totes Wi MecA(si00%) Funding Amount I Funding Amounts MAGNITTReport |MENA|Foning sion Following a quarter-on-quarter decline in funding and the number of deals, the MENA region saw signs of recovery in Q4 albeit against the backdrop of a summer lull a —— en, soa = fofDeas am MEGALsI00) | Funding Amount I Funding Amounts MAGNITTRound size evolution in MENA reported a shift in concentration from $0K-$1M in 2021 to $1M-$5M in 2022, reflecting the shift in investor appetite AMAGNITT some i 55-5200 mi simssm i s0x-sam4—— err vestent Report MENA Tp Deals 26% of total MENA funding was concentrated in the top five deals, with the largest two investments based in the UAE ne sue carey beay emt) Sage etn Arcus) Uaetirttntas ste eS Ma Cag Pe nt a ln er or MAGNITT—— ‘era tvestent Report | MENA Es The MENA region reported a 71% annual increase in exits in 2022 as the UAE and KSA doubled the M&A activity seen in 2021 MAGNITT *ama Repart| MENA letra By Et. Catal Oepoved One-third of the capital deployed in the MENA region was from the USA reflecting increased international appetite towards investments in the MENA region AMAGNITT ”ee Ecosystem Insights Tough times don’t last and tough people do! 2022 tested us all invari ‘ous ways and the resilience of our entrepreneurs isa testimony to how far the MENATP tech ecosystem has come. Its worth reminding ‘ourselves that the last economic slowdown gave birth to the likes of Uber, Airbnb and Netflix and | expect a similar outcome from our region. Ne are already seein fers bulld + business models backed deeper value propositions and healthier unit economics. We af riled tosee this nimbleness among Entrepreneurs, and at MEVP we a ited to help them achieve their vision AMAGNITTWe A aN ae TTT = Tarot} AFRICA eA tee Pe ny ete enero!Executive Summary | Africa $2.9Bn ® Total Funding Tew MEGA deals dropped Yo 356 in 2022" thet level in 2021, whe #4 2 MEGA Deals MEGA deat retestedin both ber and aloe in 2022 whe 2024 sm $1.2900 In Fendi arose seven deals, ony $6354 ‘wasreportedin 202 across for deals #703 we Tota Deals ‘ice Sco 2019. The rarer of eas ‘onracted by 24 fom 703n 202110683 #70 Se Record Exits level by ony seven del with FinTech ‘apturing hens sharsot MBA act Nigeria Leading Country in Funding & Deals Nga topped Af noth number of ese anc funding with $8986 aco 198 del Kenya Fanked second wth $595M across 91 deals Egypt turd with S517M across 160 dels Nigers $0K-$1M Round Size Focus ‘Altiessroundsizeconcentation wasn $0K-$1M brackets 2022.A7PP ddnewasseen forthe round size $1M$5M between 2021 and 2022 The share of the latter round was mth redirected inte $5Ms round se, MAGNITT ‘Similar to MENA, FinTech captured the fion’s share of funding in ‘Aria n 2022 with 49% of total funding. The industry closed ‘wo MEGA deals amounting to $360M. Transport & Logistis, ranked second witha share of 11% as the later closed a MEGA deal of $150M. E-commerce ranked third with 11% of total funding ® e @ Fintech aL E-commerce 49% 11% 11% Hf renin (=) | BYRepar|Arc |Fnne aon Equity funding in African headquartered startups almost matched the 2021 levels, despite a 51% decline in MEGA deal funding says s2asie = : AMAGNITT i vECA(si00M9 Funding Amount I Fencing AmountsRepar|Arc |Fnne aon Following the strong start to Q1 2022, the number of deals and the value of funding reported quarterly drops SZ a cca = on a ae : - : I Funding Amounts AMAGNITT50% of all investment remained below $1M, with a 5PP increase in deal transactions at late stage above $5M. s20Me 55-20" mi sims i sox-sin AMAGNITT ”——— err vestent Repeat |Top Deas Nigerian and Kenyan headquartered startups accounted for four of the top five investments in Africa in 2022, the sum of the top five contributing 25% of total funding, ne sue carey erin AMAGNITT bsg Teme eis sae spa tea aca Fe tna Tecate er a ers fon ONC set Cast Se rare Contr “Tes Govan Avr roe Catv Sa Sebamed meconium lege ane Cnt| Reitercoteuiiege=tuc nears)epraea Bas Exits in Africa reported an uptick in 2022, surpassing their 2021 levels with seven more exits, despite Sub-Saharan Africa seeing a retreat year-on-year AMAGNITTUSA headquartered investors accounted for over 50% of capital deployed in Africa, while Africa based investors in African startups contributed only 17% AMAGNITTEcosystem Insights [At Loftyine, we remain focused on what we do best, planting and ‘nurturing seeds, particularly in our unique role as the bridge between North Africa and Sub-Saharan Africa. Our work as investors becomes, even more important when financial markets become tighter. Venture capital isa long game. We do not allow current market conditions to sway us from our foundational investment thesis of supporting ‘Afropreneurs in building a prosperous and equitable Africa. We ion with a belief tha p revenues to ain committed to value ad ance must scale along with high g her this drought. To that end, hard decisions must not be avoided, The market will shake out some companies through increased M&A in 2023.and more due ligence by all investors. Overall, we welcome the opportunities that h tions and stronger fundamentals in 23 will bring to MaGniTTTTT Section 07 PAKISTAN eA AExecutive Summary | Pakistan $315M ® Total Funding Fe ey So $550h in 2008 2 MEGA Deals fcurtry in 2022 corr 0 or an a thet ‘$0K-$1M Round ‘The share of ound sie $14 cst tye eresse nse Shore of 205 whereas $0 AMAGNITT #72 ey Total Deals 122 The ter deine nthe robe ot ls pushed the mean funding vale > fom SIMO $8 702022 @ Record Exits Bite in 2022 exceeded the tot ots E-commerce captured the highest share of funding in 2022 with 41% FinTech flowed with 27%, while Retall ranked third with 41% 27% 12% ee |ort Patan Fang okon Pakistan saw a 20% contraction in the number of deals in 2022 despite funding being roughly flat year-on-year Hof Dose IE MEcA(s100m) sisi Wi Funding Amounts AMAGNITTort Patan Fang okon Similar to regional EVM trends, Q1 funding was highest in Pakistan in 2022 with subsequent drops seen more aggressively than in other countries fn / , Q ssa sof Deas i esa ($100) su Funding kmaunt = — — IE Funding Amounts AMAGNITT‘err vstent Report 2022 sawa shift in Pakistan to larger investment rounds than those seen in previous years as investors focused on their existing portfolios over newer early stage investments AMAGNITT “ s20. 55-520" i simssm i s0K-s304ee err vestent Reper | Pktan Topas Top five deals contributed to more than half the funding Pakistan saw in 2022, with three of the rounds being at Series A AMAGNITTort Paistn eats Pakistan tripled its exits in 2022, with the total exceeding all five previous years combined AMAGNITT °sor Raion by E. Capa Deore While US-headquartered investors had the highest contribution of capital deployed in Pakistan’s ecosystem, local investors contributed nearly a quarter of the capital deployed AMAGNITTSection 08 \ ea Od AA See CSMExecutive Summary | Turkey $1.6Bn ® Total Funding 2121 tien by te cesta lo fon MEGA dene of 28%. #3 a MEGA Deals “Three MEGA dealswere cored Tureyin 2002, with Geis $7oBM cel being the ‘accounted for 70% of total funding 2022, $0K-$1M Round Size Focus #295 ey Total Deals {nant 6 tostand 3 295 dealin 2022, #31 S Record Exits Eis io Tukey touched 31 in 2022, up by 29k tromthet vein 2021.17of haste ‘reported were startups founded ve yas 1 ee ent we or pe Round srs in Turkey were many concentrated inthe SOK-S1M bracket in 2022 whereby the ‘href deal improved rom Sit 2021 t Bin 2022 whl te share of oundsae SIM SM AMAGNITT ‘Transport & Logistics was the leading industry in Turkey in 2022 {aking over a share of 51% driven by Getirs $768M investment {Gaming wasthe runner up with 23%, while Advertsing & Marketing ‘anked third with 8% of total funding Allof which had MEGA deals ‘dosed in 2022, ® @ e@ Gaming ‘Adv. 6 Marketing TL 51% 23% 8% Hf oetnincrone (@) A)When stripping out large MEGA deals including Getir and Dream Games, funding in Turkey saw a contraction of 28% compared to 2021 sss tot Deas sume Ea ($2000) 4 Funding Amount I Funding Amounts AMAGNITTTurkish investments, removing MEGA deals, returned to early pandemic levels following a slow down in later stage investment activity fotos I sca si006) S cote Fund Amount = =— — nm oe oe I Funding Amounts AMAGNITTRound size evolution in Turkey showed a rise in the share of investments less than $1M round size, showing investors’ focus on early stage startups in 2022 AMAGNITT ” s20.e $5520 mi simssm i s0x-sa04Turkey saw a high concentration in late-stage investment. Getir’s investment accounted for 47% and when combined with Dream Games both aggregated 63% of 2022 Turkish funding AMAGNITT baTurkey saw a record 31 exits in 2022, the third consecutive growth AMAGNITT ”‘Vere stent Report Tura nestor Rnb Capt Oxon USA headquartered investors took the lion’s share of capital deployed in Turkey, followed by Middle Eastern investors, when combined account for 72% of investment AMAGNITTEcosystem Insights ‘At Endeavor Catalyst we have been actively investing in the region for ‘over adecade - beginning with Turkey in 2012-- and are now in twelve markets across MENAT. tn ere thrilled to make our first investments in Pakistan (Baa Morocco (Chari 2, our portfolio companies in the region raised a combined $284, including the Foodies (Saudi Arabia) and rukKer (UAE) mega rounds. While UAE, Turkey, and Eeypt stand out as active markets, we are also seeing increased venture activity in Saudi Arabia and Lebanon. We have long been believers inthe innovation al out of the reg 3k fon ontinuing to support the high-impact entrepreneurs leading the @gxpeavor AMAGNITTAPI Access data on-demand through our API and integrate the data you need when you need it to your tools SMAGNITTTato teeg INVESTOR RANKING ro)EE ‘err tvs Reger nstr Rann By esa MENA MENA: Top investors by number of deals in 2022 ek et met ain inet AMAGNITT ”‘sneer et ter ng Cpe De MENA MENA: Top investors by estimated deployed capital in 2022 ek eter ete Hataain EL citdbeloet MAGNITT .EE err vestent Repr nstr Rann BY Dean Ae Africa: Top investors by number of deals in 2022 ek eer ete ain inet vensecoptse) teste ani veonencapts) co AMAGNITT *EE ‘err vstent Reger instr Rann BYES Capt Deon Ace Africa: Top investors by estimated deployed capital in 2022 ek eer mete Hataain EL citdbeloet own veesecipa¥ one ‘sind al dee tia edb rnd sp an De ore MAGNITT *or instr aking ByDea in Poston Pakistan: Top investors by number of deals in 2022 Instr aouain inet AMAGNITT aort instr Raking ys. Capta OeoyecinPaison Pakistan: Top investors by estimated deployed capital in 2022 nee aozain AMAGNITT ex containedor ier Raking yOu in Trey Turkey: Top investors by number of deals in 2022 mete Hataain AMAGNITT “EE ort | stor aking | BE. Capt DeploecinTrkey Turkey: Top investors by estimated deployed capital in 2022 ek wee mete Hata Ex contdDeloet AMAGNITT °Ecosystem Insights Capital deployment in regional VC continued at a record pace in 2022, with a clear focus on fundamentals, Because global equity markets were unsettled in 2022 and tech startup valuations started to reflect not just [traditionally] the pace of the company’s revenue growth, but also the type of sales (*recurring” or otherwise), the startups “unit economics” and resulting gross margin, as well asthe estimated “cus pedieced et ae it as early as Seed Moreover, concepts such as ‘path to profitability diligence sessions not justin Series Aor B situation stage opportunities. All these are postive trends likely to persist in AMAGNITTrN =e) 0) MAGNiTTAbout Us The number one platform for verified venture capital data in the Middle East, Africa, Pakistan, and Turkey ne isthe number one sore of verified AMAGNITT Funding Rounds 2,000 Dee cre er Deen iSofiane Haddadi “Prior to using MAGNITT , we relied on desk research, market intelligence, and estimations. MAGNITT has been instrumental in providing us one and unique reliable source of information when it comes to the startup industry in our region” dS raron MAGNITT 99 Luca Barbi 'MAGNITT provides indispensable insights to define our investment strategy. We read through the quarterly VC reports to understand industry trends ‘and dynamics acrass countries, s and investment stages svEE MAGNITT Methodology information data engineered by MACNITT. All non-enginesred datas verified and curated with an extensive proce for incision in it analyte reports AMAGNITT ”