- The Qatar Investment Authority launched a $1 billion venture capital fund.
- QIA aims to build the local ecosystem by investing in international and regional VC funds.
- QIA may require fund managers to establish a presence in Qatar.
The Qatar Investment Authority (QIA) recently announced the launch of a $1 billion venture capital fund of funds program.
The objective is to invest in international and regional VC funds and attract them, along with entrepreneurs, to Qatar and the Gulf Cooperation Council (GCC).
Building the ecosystem
QIA aims to build a local and regional base of VCs and entrepreneurs through this initiative. The sovereign wealth fund’s CEO Mansoor Ebrahim Al-Mahmoud said there is currently an absence of dedicated capital in Qatar for companies seeking Series A to Series C funding rounds.
QIA will concentrate investments in fintech, edtech, and healthcare.
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How it will work
While the program will primarily invest in VC funds, QIA remains open to co-investing directly into companies.
To demonstrate commitment, fund managers looking to raise money from QIA may need to establish a footprint in Qatar, have a senior-level presence in the country, or expand across the GCC.
QIA and other Middle Eastern funds have accelerated investments in Southeast Asia over the past two years after initially missing the boom.
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According to Refinitiv, Gulf-based funds participated in 59 deals in Southeast Asia from 2020 to 2021, a rise from just 7 deals between 2018 and 2019.
QIA has notably co-led a $150 million funding round in One Championship and backed Malaysian unicorn Carsome.
To read the original article in its entirety: https://www.techinasia.com/qatari-sovereign-fund-sets-1b-startup-investments
