- Golden Gate Ventures launched a $100M MENA fund based in Qatar.
- The fund targets sectors like greentech, AI, edtech, fintech, and healthtech.
- This marks the Singapore VC firm’s entry into the Middle East region.
Singapore VC firm sets sights on the Middle East
Golden Gate Ventures, a Singapore-headquartered venture capital firm, has announced the first close of its US$100 million Middle East and North Africa (MENA) Fund 1, marking its entry into the region.
The Qatar-based fund has secured US$20 million in commitments from anchor investors Al Khor Holding, Al Attiya Group, and Sheikh Jassim bin Jabor al-Thani, according to the Gulf Times.
Vinnie Lauria, founding partner at Golden Gate Ventures, expressed optimism about Qatar’s potential for remarkable growth, citing its supportive government, progressive economic policies, emphasis on diversification and innovation, well-educated and diverse population, and thriving entrepreneurial spirit.
Targeting greentech, AI, and more
MENA Fund 1 targets sectors such as greentech, alternative energy, and B2B artificial intelligence to complement Qatar’s established natural gas and energy industries. The fund also seeks investments in edtech, fintech, and healthtech.
Golden Gate Ventures has been on an expansion spree lately, elevating partner Angela Toy to the COO post in March to support expansion initiatives.
The firm had already expanded into Vietnam, Saudi Arabia, and New York. Simultaneously, the Middle East and Southeast Asia appear to be fostering closer ties in tech investments, evident from the recent funding rounds of Shein, Lenskart, and Kakao Entertainment, which included Middle Eastern investors.
To read the original article: https://www.techinasia.com/golden-gate-ventures-launches-100m-mena-fund-qatar
