Cross-border venture financing deals across Middle East and Africa’s (MEA) tech industry totalled US$1.9-billion in Q2, 2021.

This is according to global research firm GlobalData’s deals database which highlighted the impact of the US$127-million venture financing of Firebolt Analytics.

The total marked an increase of 16.9% over the previous quarter and a rise of 118.7% when compared with the last four-quarter average of US$886.97-million.

According to GlobalData, the MEA region held a 5.77% share of the global technology industry cross border venture financing deal value that totalled US$33.62-billion in Q2 2021.

With a 5.06% share and deals worth US$1.7-billion, Israel was the top country in MEA’s cross border venture financing deal value across technology industry.

In terms of deal activity, the region recorded 122 cross border deals during Q2 2021, marking an increase of 24.49% over the previous quarter and a rise of 67.70% over the last four-quarter average. Israel recorded 59 deals during the month.

The top five cross border venture financing deals accounted for 28.05% of the overall value during Q2 2021.

The combined value of the top five technology cross border venture financing deals stood at US$544-million, against the overall value of US$1.9-billion recorded for the quarter.

The research lists several deals that made it to the top of the list during the quarter under review:

1) Angular Ventures, Bessemer Venture Partners, Dawn Capital, K5 Global, TLV Partners and Zeev Ventures’ US$127-million venture financing of Firebolt Analytics

2) The US$120-million venture financing of Wiz by Blackstone Capital Partners and Salesforce.Com

3) Aleph Venture Capital, Amiti Ventures, Liberty Venture Partners, Playground Global, Schusterman Family Investments, Third Point Ventures and Yuval Ariav’s US$120-miillion venture financing of Next Silicon

4) The US$100-million venture financing of Bringg Delivery Technologies by Cambridge Capital Group, GLP Ventures, Insight Partners, Next47, Pereg Ventures, Salesforce Ventures, Shmuel Harlap and Viola Growth

5) PRYTEK’s venture financing of TipRanks for US$77-million.