QIA launches $1B venture capital fund of funds to support startups
The initiative aims to attract major international VC funds and entrepreneurs to Qatar and the GCC region, with the aim of generating market-level commercial returns in line with QIA's mandate for sustainable long-term returns.
The Qatar Investment Authority (QIA) is launching a $1 billion venture capital fund of funds to support local and regional startups and Gulf state.
The programme will focus on the technology, fintech, edtech, and healthcare sectors, and will invest in international and regional venture capital funds.
The fund will invest indirectly through other VC funds, but may also make targeted co-investments, according to a statement shared on Zawya.
“QIA is launching this programme to help ensure that innovative businesses can readily access capital and support from VC funds, enabling them to scale operations and expand market presence in Qatar, across the GCC, and ultimately onto the international stage,” said Mansoor Ebrahim Al-Mahmoud, CEO of QIA.
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The initiative aims to attract major international VC funds and entrepreneurs to Qatar and the GCC region, with the aim of generating market-level commercial returns in line with QIA's mandate for sustainable long-term returns.
"The Gulf state currently has no pool of capital dedicated to support businesses that are past seed funding and are ready for Series A to Series C investment rounds," he further noted.
Qatar's National Development strategy aims to expand the number of start-ups and VC funding availability in the local market, while also supporting the sustainable development of a vibrant VC and start-up ecosystem.
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