VC activity in Mena increases by 28%

Venture Capital (VC) activity in the Middle East and North Africa increased by 28 per cent in 2011, according to the Second Annual Venture Capital in Mena Report released by the Mena Private Equity Association. While the region’s VC industry is still in the early phases of development, the rise in activity reflects increased optimism for small business growth amongst entrepreneurs, investors, and governments — despite macro-level challenges that persist in some countries. Key findings from the report include: From 2009 to 2011, 120 Venture Capital transactions were completed compared to just 62 from 2006 to 2008.   From:gulftoday