• CE-Ventures partners with MAGNiTT to launch first-of-its-kind climate tech venture capital report for the Middle East North Africa (MENA) and Türkiye region.
  • US$ 651 million was invested into 148 startups across 225 deals between 2018 and 2022; and US$ 40 million was deployed during H1 2023.
  • The UAE leads the region accounting for 62% of total climate tech venture funding.

United Arab Emirates: - CE-Ventures, the corporate venture capital platform of Crescent Enterprises, has partnered with MAGNiTT, the leading venture capital data platform in the MEAPT region [Middle East, Africa, Pakistan and Türkiye], to unveil 'The State of Climate Tech Venture Capital Report’. This groundbreaking and timely report delves deep into the dynamic landscape of climate tech investments in the Middle East and North Africa (MENA) and Türkiye region, providing insights into key trends, challenges, and opportunities in this rapidly evolving sector.

The  report provides a comprehensive overview of climate tech investments in the region and highlights the importance of harnessing innovative technologies to combat climate change. With existing technologies holding the potential to mitigate 65% of all emissions, the report underscores the significance of further advancements to bridge the remaining 35% emissions gap.

Key Highlights from the Report:

  • Record-setting climate tech Investment: Climate tech investments reached an unprecedented global total of US$ 82 billion in 2022, marking a 20% increase from the previous year.
  • In the MENA and Türkiye region, US$ 651 million were invested in 148 startups between 2018 and 2022.
  • 2022 was a record year for climate tech funding in the MENA & Türkiye region with total investment crossing a quarter billion dollars for the first time ever and resulting in a 50% increase compared to the previous year.
  • The UAE leads the region with 62% of total climate tech venture funding, while Türkiye saw the greatest number of deals at 80.
  • During H1 2023, the region has seen 30 transactions executed, which already represents 60% of the total number of transactions in the previous year.
  • Startups in the agriculture sector, developing solutions towards climate resiliency, accounted for a majority of the venture capital invested over the past 5.5 years.

Commenting on the report, Badr Jafar, CEO of Crescent Enterprises and COP28 Special Representative for Business & Philanthropy said: "The Middle East is highly exposed to the effects of climate change. Our natural water scarcity, coupled with temperatures rising at twice the global average, foreshadow an increase in drought and extreme weather events that can impact hundreds of millions of lives. This ‘State of Climate Tech Venture Capital Report’ highlights the ingenuity of our regional entrepreneurial ecosystem, where investors, ecosystem enablers, and policy leaders are coming together to develop a multi-pronged approach towards addressing climate change. We need to move faster, and together, if we are to meet the challenge and embrace this essential opportunity.”

Philip Bahoshy, CEO of MAGNiTT added: "We are excited to unveil our collaboration with CE-Ventures, the regional leader in the climate tech industry. As the expert VC data platform in MEAPT, we are keen to be first to present insights on the region’s industry. We are confident that our transparent data, though in its infancy for this particular subject, will spark increased interest, educate enthusiasts, and foster essential dialogues, particularly with COP28 on the horizon. Over the past few years, the sector has witnessed a remarkable surge in investor interest, boasting an impressive Compound Annual Growth Rate (CAGR) of 62% from 2018 to 2022, resulting in a pinnacle of $256 million in capital deployment in 2022. We eagerly anticipate the industry’s continued progression and development."

The launch of the report is timely, as it is a month ahead of the beginning of COP28 UAE, which will include the convening of leading business leaders and philanthropists from around the world at ‘Business & Philanthropy Climate Forum’, COP28’s private sector engagement platform.

'The State of Climate Tech Venture Capital Report’ is a valuable resource for startups, investors, policymakers, and anyone interested in the future of sustainable technologies in the MENA region. The report will be available for download on https://bit.ly/3tCceqd.

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About Crescent Enterprises / CE-Ventures

Crescent Enterprises is a leading multinational company, growing diversified global businesses that are sustainable, scalable, and profitable with operations across 15 counties. CE-Ventures is the corporate venture capital platform of Crescent Enterprises, and it focuses on strategic investments in early to growth-stage startups across various sectors, with a commitment to promoting sustainability and innovation.

About MAGNiTT

Headquartered in the Dubai International Financial Centre, MAGNiTT is the largest verified investment data platform for investors, entrepreneurs, corporations, governments, and the wider venture capital industry in the Middle East, Africa, Pakistan, and Turkey. Through its dynamic analytics platform delivering real-time information on over 25,000 private companies and 7,000 investment firms across 65 countries – including funding history – MAGNiTT enables investors, corporations, Big Tech companies, and government entities to make informed, data-driven decisions that help deliver real-world impact and better value for all sides of the investment equation.