Bahoshy: Saudi VC Deals Fall 35% as Capital Rises

A Magnitt report finds that Middle East and North Africa venture capital deals fell 35% in number, even as mega-rounds raised $1.5 billion so far this year. The contraction in deal activity across the broader startup ecosystem contrasts with the surge in large investments, highlighting a two-speed market. Philip Bahoshy, Magnitt's CEO, discussed the findings with Bloomberg.