Qatar Investment Authority (QIA) is set to launch Qatar’s first venture capital (VC) Fund of Funds, a strategic investment program to foster innovation in Qatar. The Fund of Funds program will invest more than USD 1 billion in international and regional venture capital funds.
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The program will have two key objectives. It will generate market-level commercial returns in line with QIA’s mandate to secure sustainable, long-term returns to the people of Qatar. At the same time, it will support the sustainable development of a vibrant VC and start-up ecosystem in line with Qatar’s National Development Strategy (NDS3), which seeks to increase the number of startups and the availability of VC funding in the local market.
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The program will aim to attract leading international VC funds and entrepreneurs both to Qatar and the wider GCC region, bringing deep VC and start-up expertise, and contributing to the growth of a local and region base of venture capitalists and founders. The program will place a priority focus on the tech sector, including fintech and edtech, as well as the healthcare sector. It will primarily invest indirectly via other VC funds, but will be able to make targeted co-investments with the participating funds. The Fund of Funds program will only invest in VC funds and not invest in private equity, debt, or any other funds.
QIA CEO, HE Mansoor Ebrahim Al-Mahmoud said of the program: “There is currently no dedicated pool of capital in Qatar for companies that are past seed funding and are ready for Series A to Series C funding rounds. Building a well-connected start-up ecosystem network in Qatar is fundamental to diversifying the country’s economic base in the long term. QIA is launching this program 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.”
This highly strategic initiative will accelerate the development of Qatar’s venture capital ecosystem, providing both financial resources and infusing global best practices and networks into the local market. The program aims to make important strides towards closing a current funding gap which exists for local and regional entrepreneurs.
About Qatar Investment Authority (QIA )
Founded in 2005, Qatar Investment Authority (QIA) is the sovereign wealth fund of the State of Qatar. QIA was established in 2005 to protect and grow Qatar’s financial assets and to diversify its economy. Headquartered in Doha, QIA’s purpose is to generate returns for our future stakeholders. We aim for all our investments to have a positive impact.
