Feb 24, 2025
Qatar’s sovereign wealth fund is currently assessing eight venture capital firms to potentially include in its ambitious “fund of funds” programme. According to a report by Reuters, this initiative, managed by the Qatar Investment Authority (QIA), has already funneled nearly $500 million into six firms.
The programme is valued at $1 billion and, if the new investments proceed as planned, it will be nearly fully subscribed, as stated by Mohsin Pirzada, QIA’s head of funds. Currently, the programme represents less than 0.2% of QIA’s total holdings, which IndexBox data estimates at $526 billion. The initiative was launched to address the gap in series A, B, and C venture capital funding in the region, aiming to develop a robust entrepreneurial ecosystem in Qatar.
The venture capital programme has attracted interest from around 120 firms since its inception at the 2024 Web Summit Qatar, with B Capital, Deerfield, Rasmal Ventures, Utopia, Builders VC, and Human Capital already selected. These firms are expected to establish offices or regional headquarters in Doha, further embedding international business networks into Qatar’s economic landscape.
Utopia, one of the selected firms, has launched a Middle East-focused fund named A-Typical in Qatar, planning to hire 15 to 18 staff in Doha. This aligns with QIA’s broader strategy of fostering economic diversification and competition with regional powerhouses like Saudi Arabia and the United Arab Emirates in attracting financial companies to the region.
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