TLDR:
- Noor Sweid of Global Ventures discusses the shift of portfolio companies towards AI at the Qatar Economic Forum
- Golden Gate Ventures announces a $100 million MENA fund and focuses on B2B AI investments
The state of the venture capital market and the impact of artificial intelligence were key topics of discussion at the Qatar Economic Forum in Doha. Noor Sweid, Co-Founder and Managing Partner of Global Ventures, highlighted the challenges faced by founders in the current funding environment, emphasizing that start-ups in the region show good business fundamentals due to their experience with cash constraints. Sweid also mentioned that a significant number of Global Ventures’ portfolio companies are pivoting to integrate AI tools, with 40% of them now considered AI firms.
Vinnie Lauria, Founder of Golden Gate Ventures, announced the fund’s first $100 million MENA fund with a focus on B2B AI investments. He highlighted the strengthening corridor between Southeast Asia and the Gulf, as portfolio companies find opportunities in cities like Abu Dhabi and Riyadh. Rick Gerson, Co-Founder and Chairman of Alpha Wave Global, pointed out the success of AI in the region with Microsoft’s $1.5 billion investment in Abu Dhabi-based G42. Alpha Wave Global also sees the Middle East as a massive, largely untapped opportunity for their portfolio.
