Economic Research | Lebanon This Week | Lebanon This Week 587 | Lebanese technology startups attract 40 investments totaling $28m in 2018 | Lebanon | Byblos Bank

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Lebanon This Week 587

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Lebanese technology startups attract 40 investments totaling $28m in 2018

Figures released by ArabNet, a hub for Arab digital professionals and entrepreneurs, show that investment funds based in the Middle East & North Africa (MENA) region made 40 investments in technology startups in Lebanon for a total amount of $28.3m in 2018. In comparison, Lebanon attracted 56 investments for an aggregate of $54m in 2017, 49 deals totaling $72m in 2016, 34 investments for $35m in 2015, 23 investments for an aggregate of $28m in 2014, and 11 investments for $7m in 2013.

In addition, Lebanon attracted 15.7% of the number of investments in technology startups in the MENA region in 2018, down from 18.2% in 2017 and 18.5% in 2016. Lebanon, along with Egypt, attracted the second-highest number of investments in technology startups among 15 MENA countries in 2018.

Also, the amount of investments in technology startups in Lebanon accounted for 4.2% of total investments made by MENA-based funds in the 15 MENA markets in 2018, compared to 8.1% of the total in 2017 and to 7.4% of investments in 2016. Lebanon attracted the fifth highest amount of investments in the MENA region in 2018.

In parallel, MENA-based funds made 213 investments in technology startups in Lebanon for a total of $224m between 2013 and 2018. The number of investments in Lebanese technology startups was the third highest among the 15 MENA countries, behind the UAE (348 deals) and Egypt (214 transactions). Also, the amount of investments in Lebanese technology startups was the third highest in the MENA region during the 2013-18 period, behind the UAE ($2.1bn) and Egypt ($345m).

Further, the number of investments in Lebanon accounted for 15% of total deals made by MENA-based funds between 2013 and 2018, while the amount of investments in Lebanon represented 7.1% of aggregate investments during the covered period. The findings are based on data collected from 59 investment funds and accelerators in Bahrain, Egypt, Jordan, Kuwait, Lebanon, Morocco, Oman, Palestine, Saudi Arabia, Tunisia, the UAE and Yemen
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Byblos Bank S.A.L., Byblos Bank Headquarters, Elias Sarkis Ave., Ashrafieh, Beirut

List of Banks No.39, CRB:14150, BDL Authorization No. 11/231 Dated 14 May 2005

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