TLDR:
- Singapore-based asset manager, Golden Gate Ventures, has launched a $100 million venture capital fund for startups in the Mena region.
- The fund, domiciled in Qatar, has already raised $20 million from investors including prominent families and holding companies in Qatar.
Golden Gate Ventures has launched a $100 million venture capital fund targeting startups in the Middle East and North Africa (Mena) region. The fund, named the Golden Gate Ventures Mena Fund, is based in Qatar and aims to raise a total of $100 million. The fund has already secured $20 million in investments from notable investors, including prominent families in Qatar and their respective holding companies, such as Al Khor Holding, Al Attiya Group, and Sheikh Jassim Bin Jabor Al Thani.
The launch of the Mena Fund follows Golden Gate Ventures’ decision to open an office in Saudi Arabia in 2023, indicating the firm’s commitment to the region and its potential for investment opportunities. The fund will focus on supporting startups in various sectors, including alternative energy, green technology, B2B artificial intelligence, and energy-related deep tech.
Michael Lints, a partner at Golden Gate Ventures, expressed optimism about the Mena Fund’s potential impact on the startup ecosystem, leveraging the social and financial capital of the fund’s investors. The fund’s establishment reflects the growing interest in venture capital investments in the Mena region and the recognition of its entrepreneurial potential.
