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The program , according to QIA , look for to draw external VC funds and startups to Qatar and the wider Gulf Cooperation Council ( GCC ) region , with a particular centering on the fintech , edtech , and healthcare sphere .
like to typical investment firm - of - funds structures , QIA ’s opening move will adorn indirectly through other VC funds but also make targeted cobalt - investments with participating funds . The sovereign wealthiness fund need to bolster up the number of startups and enhance the handiness of VC funding within Qatar as it attempts to constrict the gap with more accomplished ecosystem in neighboring land such as Saudi Arabia and the United Arab Emirates ( UAE ) .
Recently , these funds , direct to trim back trust on oil colour , have progressively stream money into tech startup in the GCC region , hoping to nurture expand speculation capital letter industries . The scheme has run across some succeeder . In 2023 , Saudi Arabian startups alone fire $ 1.3 billion . to boot , data from Magnitt let out that only 45 % of investor came from outside the MENA region , point grow due date in the local venture capital ecosystem , which receive $ 2.6 billion in funding last class .
So far , Saudi Arabia has lead the heraldic bearing in establishing consecrate cash in hand for tech firms . Initiatives like Jada , the Public Investment Fund ’s ( PIF ) $ 1 billion fund of funds , and Saudi Venture Capital have actively induct in speculation cap funds , including notable epithet like China ’s MSA Capital and Endeavor Catalyst . However , unlike these enterprise , which also target individual equity fund , QIA ’s fund of funds is exclusively rivet on venture cap finances ( similar to Dubai ’s $ 200 million Future District Fund ) , commemorate the first of its kind in the region for a country .
“ There is presently no dedicated pool of capital in Qatar for troupe that are past seed funding and are ready for Series A to Series C funding troll . Building a well - connected inauguration ecosystem meshwork in Qatar is cardinal to diversifying the country ’s economic base in the long term , ” say QIA CEO Mansoor Ebrahim Al - Mahmoud in a statement . “ QIA is launching this program to help ensure that innovative businesses can readily access cap and living from VC store , enable them to scale operations and exposit market presence in Qatar , across the GCC , and ultimately onto the external leg . ”
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African VCs and startups are eyeing the Middle East for new capital , but there ’s a haul
The QIA call for monetary fund handler seeking pecuniary resource to demonstrate a strong caterpillar tread criminal record and actively participate in the Gulf ’s VC and startup ecosystem . This entails instal operation , a fourth-year - level comportment in Qatar , and sketch expansion plans across the GCC .
The QIA ’s directive mirror what was expressed by investment firm managers and venture capitalist who , last year , sought to raise working capital from modified partners in the Middle East , including sovereign wealth investment firm . Thus , discover how these directive align with their individual investments will be of particular involvement . These wealth funds have historically backed alien startup , peculiarly in the U.S. and Asia , with minimal connexion to the Gulf region . The QIA , for example , has made investments in various ventures such as Builder.ai , Mukesh Ambani’sReliance Retail , Singapore ’s AI merchandising weapons platform Insider , Africa ’s telecom operatorAirtel Africa , and notable Indian startups like Swiggy and Flipkart .
Qatar fund adorn $ 1B in Ambani ’s Reliance Retail at $ 100B valuation
