Qatar’s new $1bn fund to propel global tech growth

Qatar’s new $1bn fund to propel global tech growth

State-backed Qatar Investment Authority (QIA) will launch the country’s first venture capital (VC) to invest more than $1 billion in international and regional VC funds. The “Fund of Funds” seeks to attract international VC funds and entrepreneurs to the Gulf state and the wider Gulf Cooperation Council (GCC) region, focusing on the finance, education and […]State-backed Qatar Investment Authority (QIA) will launch the country’s first venture capital (VC) to invest more than $1 billion in international and regional VC funds.

The “Fund of Funds” seeks to attract international VC funds and entrepreneurs to the Gulf state and the wider Gulf Cooperation Council (GCC) region, focusing on the finance, education and healthcare sectors.

The fund will primarily invest indirectly through other VC funds. It will make targeted co-investments with the participating funds and will not invest in private equity, debt, or any other funds.

“There is currently no dedicated pool of capital in Qatar for companies that are past seed funding and are ready for Series A to C funding rounds,” said QIA chief executive officer Mansoor Ebrahim Al-Mahmoud. 

“Building a well-connected startup ecosystem network in Qatar is fundamental to diversifying the country’s economic base in the long term. 

“QIA is launching this programme to help