-- Saudi Arabia ranked second across the emerging-market venture capital space in the first half of 2024, trailing only Singapore, according to VC data firm Magnitt.Zyn Imitators Rush In as Online Sales Halt Worsens US ShortageSoftware startup Salla raised $130 million in the period, boosting the kingdom’s venture capital fundraising to $412 million — the highest in the Middle East and North Africa, the Dubai-based company said.
“They have shifted away from late stage to early stage investments because of the high cost of capital,” said Magnitt Chief Executive Officer Philip Bahoshy. “Startups now have to be cost efficient, they cannot just rely on another investment round to raise funds.” The UAE ranked second in MENA fundraising. Startups there raised $225 million, down 19% from a year earlier. Still, the market proved resilient as deal count increased, Magnitt said.
Broader fundraising across Southeast Asia, the Middle East, Pakistan, Turkey and Africa totaled $3.5 billion in the first half, down 34% from a year earlier, Magnitt data showed. Industry giants that also happen to be established Dividend Aristocrats are worth holding onto for decades, virtually forever, for a reliable passive income. The post 1 High-Yield Dividend Stock You Can Buy and Hold Forever appeared first on The Motley Fool Canada.
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