# SaaS investors in MENA (2026 list)

> 22 saaS investors in MENA, 95% active in the last 12 months. Led by Plug and Play, Kleiner Perkins, Initialized Capital. Ranked by what they funded.

Source: https://millionrounds.com/lists/saas-investors-in-mena (Millionrounds; every figure on the page links to its filing or article)

[Investor Lists](https://millionrounds.com/lists)

# SaaS investors in MENA

Updated 7 November 2026

Firms observed backing a saaS company in MENA in the last two years, wherever the firm is based.

[See all 22 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fsaas-investors-in-mena)The top 22

**22** investors on the list No change this week

**337** cheques in 12 months *-15%* against the market

**$3.8M** median round they joined *-52%* against the market median

**95%** wrote a cheque in 12 months

**77%** have led a round

## The Top 22

Ordered by cheques observed, never by anything anyone paid for

Deploying now (21)

- 1 [Plug and Play](https://millionrounds.com/fund/plug-and-play) *Deploying now* Accelerator · United States **1,561** **$5M** median round **Nov 2026** last seen
- 2 [Kleiner Perkins](https://millionrounds.com/fund/kleiner-perkins) *Deploying now* VC firm · United States **398** **$40M** median round **Nov 2026** last seen
- 3 [Initialized Capital](https://millionrounds.com/fund/initialized-capital) *Deploying now* VC firm · United States **229** **$6.9M** median round **Oct 2026** last seen
- 4 [Shrug Capital](https://millionrounds.com/fund/shrug-capital) *Deploying now* VC firm · United States **68** **$8M** median round **May 2026** last seen
- 5 [Kevin Hartz](https://millionrounds.com/fund/a-star-co) *Deploying now* VC firm · United States **65** **$9M** median round **Oct 2026** last seen
- 6 [Evolution VC Partners](https://millionrounds.com/fund/evolution-vc-partners) *Deploying now* VC firm · United States **43** **$4.1M** median round **Sept 2026** last seen
- 7 [Enza Capital](https://millionrounds.com/fund/enza-capital) *Deploying now* VC firm · Kenya **11** **$8M** median round **Oct 2026** last seen
- 8 [216 Capital](https://millionrounds.com/fund/216-capital) *Deploying now* VC firm · Tunisia **7** **$3.5M** median round **Jun 2026** last seen
- 9 [Catalyst Fund](https://millionrounds.com/fund/catalyst-fund) *Deploying now* VC firm · Kenya **7** **$1.8M** median round **Sept 2026** last seen
- 10 [Beltone Venture Capital](https://millionrounds.com/fund/beltone-venture-capital) *Deploying now* VC firm **7** **$9M** median round **Jul 2026** last seen
- 11 [Digital Africa](https://millionrounds.com/fund/digital-africa) *Deploying now* Micro VC · France **6** **$1.5M** median round **Jan 2026** last seen
- 12 [WITAMAX](https://millionrounds.com/fund/witamax) *Deploying now* VC firm · Morocco **6** **$1.6M** median round **Apr 2026** last seen
- 13 [Azur Innovation Fund](https://millionrounds.com/fund/azur-innovation-fund) *Deploying now* VC firm **6** **$2.3M** median round **Jul 2026** last seen
- 14 [A15](https://millionrounds.com/fund/a15) *Deploying now* VC firm · Egypt **5** **$1.4M** median round **Jan 2026** last seen
- 15 [Acasia Ventures](https://millionrounds.com/fund/acasia-ventures) *Deploying now* VC firm · Egypt **4** **$2M** median round **Nov 2025** last seen
- 16 [Artal Capital](https://millionrounds.com/fund/artal-capital) *Deploying now* Private equity · Saudi Arabia **2** **$19M** median round **Oct 2026** last seen
- 17 [Sanabil](https://millionrounds.com/fund/sanabil) *Deploying now* Fund of funds · Saudi Arabia **2** **$49M** median round **Sept 2026** last seen
- 18 [Hatem Dowidar](https://millionrounds.com/fund/hatem-dowidar) *Deploying now* Angel **2** **-** median round **Oct 2026** last seen
- 19 [MFOUNDERS](https://millionrounds.com/fund/mfounders) *Deploying now* Angel network · France **1** **$2.3M** median round **Jan 2026** last seen
- 20 [SEEDRA Ventures](https://millionrounds.com/fund/seedra-ventures) *Deploying now* VC firm · Saudi Arabia **1** **$1.5M** median round **Sept 2026** last seen
- 21 [Foras Investment](https://millionrounds.com/fund/foras-investment) *Deploying now* Investment firm **1** **-** median round **Jan 2026** last seen
- 22 [angel investors from the GCC](https://millionrounds.com/fund/angel-investors-from-the-gcc) quiet Angel network **1** **$3M** median round **Feb 2025** last seen

## The Newest Cheques

Rounds this list's investors joined most recently

- **4** Nov **[Lazarus AI](https://millionrounds.com/company/lazarus-ai)** $43M *With* [Plug and Play](https://millionrounds.com/fund/plug-and-play)
- **3** Nov **[Carryt](https://millionrounds.com/company/carryt)** Round *With* [Plug and Play](https://millionrounds.com/fund/plug-and-play)
- **3** Nov **[Traversal](https://millionrounds.com/company/traversal)** Series B · $120M *Led by* [Kleiner Perkins](https://millionrounds.com/fund/kleiner-perkins)
- **3** Nov **[Applied Compute](https://millionrounds.com/company/applied-compute)** Other · $350M *With* [Kleiner Perkins](https://millionrounds.com/fund/kleiner-perkins)
- **28** Oct **[Talent Nation](https://millionrounds.com/company/talent-nation)** Pre-seed *Led by* [Enza Capital](https://millionrounds.com/fund/enza-capital)
- **28** Oct **[Viatik](https://millionrounds.com/company/viatik)** Seed · $600K *With* [Plug and Play](https://millionrounds.com/fund/plug-and-play)

## Stages This Year

324 rounds

- Seed **23%**
- Series A **19%**
- Venture **16%**
- Other **10%**
- Pre-seed **9%**
- Other **23%**

## What They Backed

Sectors, last 12 months

- AI **174**
- Fintech **29**
- Big Data & Analytics **19**
- Healthcare **16**
- Biotech **15**
- Software **14**

## Cheques by Quarter

Led Joined

100 Q1 25

121 Q2 25

105 Q3 25

115 Q4 25

103 Q1 26

94 Q2 26

66 Q3 26

21 Q4 26

The last bar is the quarter still running.

## Lists Like This

- [AI investors in North America 3,859](https://millionrounds.com/lists/ai-investors-in-north-america)
- [AI investors in Europe 2,283](https://millionrounds.com/lists/ai-investors-in-europe)
- [Fintech investors in North America 1,309](https://millionrounds.com/lists/fintech-investors-in-north-america)
- [Big Data & Analytics investors in North America 1,094](https://millionrounds.com/lists/big-data-investors-in-north-america)
- [AI investors in Asia 1,047](https://millionrounds.com/lists/ai-investors-in-asia)
- [Biotech investors in North America 1,001](https://millionrounds.com/lists/biotech-investors-in-north-america)
- [Energy investors in North America 864](https://millionrounds.com/lists/energy-investors-in-north-america)
- [Robotics investors in North America 848](https://millionrounds.com/lists/robotics-investors-in-north-america)
- [Construction investors in North America 791](https://millionrounds.com/lists/construction-investors-in-north-america)

[All investor lists *→*](https://millionrounds.com/lists)

## Reading for founders in b2b software and saas

- Lean B2B: Build Products Businesses Want Étienne Garbugli · 2014 4.16 from 249 ratings on Goodreads B2B software and SaaS About the book www.leanb2bbook.com « This is a must read for every B2B entrepreneur, SaaS creator or consultant and business school student. It's the kind of book you don't read once, you go back to it on a regular basis. » - Carmen Gerea, CEO & Co-founder, UsabilityChefs Lean B2B helps… On AmazonListen on Audible
- The Pricing Roadmap: How to Design B2B SaaS Pricing Models That Your Customers Will Love Ulrik Lehrskov-Schmidt · 2023 4.43 from 207 ratings on Goodreads B2B software and SaaS About the book "The definitive resource on SaaS pricing, I absolutely can not recommend this book enough." Viktor Heide, COO of Contractbook.com, Forbes "30 under 30" A foolproof method to achieve skyrocketing sales, growth, and profits for your software as a service (SaaS) product starts… On AmazonListen on Audible
- Integrity: The Courage to Meet the Demands of Reality Henry Cloud · 2006 4.22 from 3,393 ratings on Goodreads B2B software and SaaS About the book Integrity. It is more than simple honesty. It's the key to success. A person with integrity has the -- often rare -- ability to pull everything together, to make it all happen no matter how challenging the circumstances. Drawing on experiences from his work with Fortune 500… On AmazonListen on Audible
- Blueprints for a SaaS Sales Organization by Jacco vanderKooij Jacco van der Kooij · 2015 4.33 from 324 ratings on Goodreads B2B software and SaaS About the book Because of their very nature, SaaS companies live and die on revenue growth. And once the service is ready there is a very small window in which to scale. Missing that window is the difference between massive success and mediocrity. With such high stakes, it is crucial to get a… On AmazonListen on Audible

More books for founders and investors on the [Reading List](https://millionrounds.com/reading-list?role=founder&model=b2b_software).

As an Amazon Associate we earn from qualifying purchases.

## Quick answers about saaS investors in MENA

### Who are the most active saaS investors in MENA?

By cheques observed, the most active are Plug and Play, Kleiner Perkins, Initialized Capital, Shrug Capital and Kevin Hartz.

### How many saaS investors in MENA are there?

22 are on record. 95% made an investment in the last 12 months and 77% have led a round.

### Which stages do saaS investors in MENA back?

Of the rounds with a named stage in the last 12 months, mostly Seed (32%) and Series A (26%).

### How big are the rounds saaS investors in MENA join?

The typical (median) round among the leading investors here is $4.1M.

### Which sectors do saaS investors in MENA back most?

In the last 12 months, mostly AI, Fintech and Big Data & Analytics.

### Which saaS investors in MENA lead the most rounds?

Kleiner Perkins (33 led), Initialized Capital (13 led) and Azur Innovation Fund (5 led).

### Where are saaS investors in MENA based?

Among the most active, most are based in the United States (6), Saudi Arabia (3) and Kenya (2).

### What have saaS investors in MENA invested in recently?

Recent rounds include Lazarus AI (Nov 2026, with Plug and Play), Carryt (Nov 2026, with Plug and Play) and Traversal (Series B, Nov 2026, with Kleiner Perkins).

Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)