Qatar Investment Authority (QIA) has officially launched its $1 billion Fund of Funds programme. This is starting with an investment in Rasmal Ventures LLC, Qatar’s first independent venture capital firm. This marks the beginning of a new startup ecosystem brewing in the GCC after the UAE and Saudi Arabia. Moreover, it will help establish Doha as an innovation and entrepreneurship hub in the future.
Rasmal Innovation Fund I Backing High-Growth Tech Startups
QIA’s investment will fund Rasmal Ventures’ inaugural homegrown VC fund, Rasmal Innovation Fund I LLC, which aims to raise $100 million to back high-performance startups across:
- Fintech
- B2B SaaS
- HealthTech
- Artificial Intelligence (AI)
Fund Details for the QIA:
- First fund announced under QIA’s $1 billion VC programme
- Initially raised $30 million in June 2024 from institutional investors & family offices
- Targeting $100 million in investment commitments
Qatar’s Growing VC Ecosystem in the GCC
Rasmal Ventures, established in 2023, is Qatar’s first private VC firm, building strong partnerships with leading Qatari institutions to support innovative startups that meet the region’s unique needs.
Alexander Wiedmer, Co-Managing Partner of Rasmal Ventures, stated:
“As the first private VC fund based in Doha, we take pride in our early investments in proprietary tech startups. The trust from QIA and our other investors reflects our team’s expertise and dedication. We will continue executing our highly selective investment strategy to establish ourselves as a key player in the MENA VC landscape.”
Strategic Impact & Future Growth with QIA
- Strengthening Qatar’s startup ecosystem
- Attracting regional & global founders
- Expanding MENA’s venture capital landscape
With a seasoned team managing over 100 VC deals & successful exits, Rasmal Ventures is well-positioned to scale up promising startups and boost tech-driven innovation in the region.
QIA’s Fund of Funds programme is set to fuel Qatar’s venture capital ecosystem, unlocking significant investment opportunities across diverse industries.
