TLDR:
- Golden Gate Ventures launched its first $100mn Middle East and North Africa (Mena) Fund I in Qatar.
- The fund will focus on key sectors such as alternative energy, green technology, AI, and more to support Qatar’s economic diversification agenda.
Golden Gate Ventures, a venture capital fund founded by Silicon Valley natives, recently launched its first $100mn Mena Fund I in Qatar. The fund is led by Qatar’s most prominent families – Al Khor Holding, Al Attiya Group, and Sheikh Jassim bin Jabor al-Thani as anchor investors. It is the first international venture capital fund to be established and managed within Qatar and was unveiled at the Qatar Economic Forum.
Mena Fund I will focus on key sectors like alternative energy, green technology, B2B Artificial Intelligence, and energy-related deep tech to support innovation and complement Qatar’s international leadership in liquefied natural gas and alternative energy. The fund’s strategic sectors also include fintech, healthtech, and edtech, aligning with Qatar’s economic diversification agenda.
The launch of Golden Gate Ventures in Qatar marks a significant progression towards diversifying the venture capital sector and nurturing a thriving business environment in the region. The fund, backed by Qatar’s private business community, aims to drive innovation and entrepreneurship in the Mena region. Partners and investors express excitement about the opportunity to contribute to Qatar’s vision 2030 for a diversified, knowledge-based economy through this partnership.
Golden Gate Ventures’ Mena Fund I also announced the launch of a Qatar startup ecosystem primer, providing insights into the convergence of different factors that position Qatar as a progressive global economy. The initiative aims to support entrepreneurs, attract talent, create jobs, and attract foreign direct investments in line with Qatar’s Third National Development Strategy 2024-2030.
