VC BOOM

Mideast venture capital funding jumps to record $3.8 billion

Much of the growth in VC money for Mideast startups came from foreign investors, with Saudi Arabia and the UAE drawing the largest share

Tasneem Alsultan/Bloomberg via Getty Images

Jeannette zu Furstenberg, founding partner of La Famiglia venture capital fund, at the Future Investment Initiative conference last year in Riyadh

Venture capital funding in the Middle East jumped 74% last year, hitting a record as startups raised about $3.8 billion across nearly 700 deals.

Much of the growth came from foreign investors, with Saudi Arabia and the...