Qatar Investment Authority (QIA), the country's sovereign wealth fund, is launching a $1-billion initiative to support local and regional startups through its first-ever Venture Capital (VC) Fund of Funds.
This programme aims to:
Boost innovation in Qatar: By investing in international and regional VC funds, focusing on tech sectors like fintech, edtech, and healthcare.
Empower startups: QIA CEO Mansoor Ebrahim Al-Mahmoud explains, "This program ensures innovative businesses have access to capital and support from VC funds to scale and expand across Qatar, the GCC, and internationally."
Bridge the funding gap: QIA fills the gap for startups that have passed seed funding and require Series A to C investments.
While the programme primarily invests indirectly through VC funds, it can also make targeted co-investments. It emphasizes not investing in private equity, debt, or other funds.
The initiative has two key objectives:
Generate market-competitive returns: This aligns with QIA's mandate of securing long-term financial gains.
Foster a thriving VC and startup ecosystem: This contributes to Qatar's National Development Strategy, aiming to increase local startups and VC funding availability.
Overall, this $1 billion VC Fund of Funds signifies Qatar's commitment to fostering innovation and supporting the growth of promising startups in the region.
Photo by Markus Winkler on Unsplash
