TLDR:
- Qatar has launched its first VC fund of $1 billion to support startups in the region.
- The fund aims to generate market-level commercial returns and develop a vibrant VC and startup ecosystem in line with Qatar’s national development strategy.
The Qatar Investment Authority (QIA) announced the launch of the venture capital (VC) “Fund of Funds” worth $1 billion. This initiative, aimed at fueling the startup ecosystem in the region, will see QIA investing in both international and regional venture capital funds. The CEO of UAE-based Wamda Capital, Fadi Ghandour, welcomed the establishment of the fund, stating that it will encourage family offices in Qatar to invest in tech startups. The fund will primarily focus on the technology sector, including fintech and edtech, as well as the healthcare sector.
The program’s objectives include generating commercial returns for Qataris and developing a vibrant VC and startup ecosystem in line with Qatar’s National Development Strategy. It aims to attract leading international VC funds and entrepreneurs to Qatar and the wider Gulf region, contributing to the growth of the region’s base of venture capitalists and founders. Fund managers looking to raise capital using the new vehicle must demonstrate a strong track record and commitment to Qatar, as well as play an active role in the GCC VC and startup ecosystem.
The Fund of Funds program will only invest in VC funds and not in private equity, debt, or other funds. QIA CEO Mansoor bin Ebrahim Al-Mahmoud highlighted the need for capital for companies beyond seed funding, enabling them to scale operations and expand market presence in Qatar, across the GCC, and internationally. The fund’s launch details will be announced in due course.
Overall, the $1 billion VC fund is expected to significantly impact the startup ecosystem in the region and attract investment in key sectors such as technology and healthcare.
