Viewpoint: MENA’s rising VC tech ecosystem is an unfulfilled promise, for now

Viewpoint: MENA’s rising VC tech ecosystem is an unfulfilled promise, for now

Late evening sunlight is seen reflected off the Kingdom Tower in Riyadh, Saudi Arabia, on Thursday, Dec. 1, 2016. Photographer: Simon Dawson/Bloomberg

At a time when venture capitalists are still disillusioned and reluctantly sobering up from the boom years of 2020-21, the Middle East is anything but downbeat. Cash seems to be flowing freely. Two weeks ago, the world’s top dealmakers flocked to Saudi Arabia in droves for the FII Summit hoping to capture just a drop of its abundant oil wealth.

Edited by: Pramod Mathew

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