Prime Highlights:
- Qatar aims to strengthen its venture capital ecosystem and support local startups as it diversifies beyond fossil fuels.
- QIA’s “Fund of Funds” initiative brings international venture capital firms to Qatar, creating a strong environment for entrepreneurs.
Key Facts:
- The initiative was launched in 2024 and is part of Qatar’s plan to attract global investment.
- The program aligns Qatar with other Gulf nations focusing on technology, innovation, and private investment to drive long-term economic growth.
Background:
Qatar Investment Authority (QIA) has announced plans to invest in five new venture capital (VC) funds as part of its expanded $3 billion venture capital program, reinforcing the country’s ambition to position itself as a regional hub for innovation and entrepreneurship.
The selected funds, Greycroft, Ion Pacific, Liberty City Ventures, Shorooq and Speedinvest, are expected to establish offices in Doha. The goal is to build Qatar’s venture capital scene, attract global investors, and help local startups as the country moves away from relying on fossil fuels.
These investments are part of QIA’s “Fund of Funds” program, started in 2024 to bring international venture capital firms to Qatar and support entrepreneurs. The program follows other Gulf countries in focusing on technology, innovation, and private investment for long-term growth.
On Sunday, Qatar’s Prime Minister Sheikh Mohammed bin Abdulrahman Al-Thani announced the expansion of the program, raising its potential size to as much as $3 billion. Speaking at the opening of the Qatar edition of the Web Summit technology conference, he said the program is now moving “from momentum to scale,” signalling a broader and more ambitious investment strategy.
QIA said the expanded program may extend beyond its earlier focus on Series A and B funding rounds. Mohsin Pirzada, Head of Funds at QIA, noted that the fund is now considering later-stage investments, which could lead to partnerships with a wider range of global fund managers. At the same time, he said QIA would continue to support early-stage ventures, supported by existing pools of capital within the country, including credit lending facilities.
QIA manages about $580 billion in assets, according to Global SWF. As part of its plan to diversify, the fund started a technology-focused company last year to support growth in high-potential sectors.
Qatar has also launched a pilot program that gives free computing resources to startups in Doha. This could also help venture capital managers in the Fund of Funds scheme and make Qatar more competitive compared to other regional hubs.
These steps show Qatar’s aim to attract global investment, support innovative businesses, and build a strong, future-ready economy.
