Singapore-based venture capital firm Golden Gate Ventures has successfully closed its first US$100 million MENA fund. It is said to be the first international VC fund to be established and operated within Qatar.
According to Forbes, the fund includes a US$20 million investment from Qatari investors. Key investors include Al Khor Holding, Al Attiyah Group and Sheikh Jassim bin Jabor Al Thani.
The fund will target startups in areas such as alternative energy, green technology, B2B artificial intelligence (AI), energy-related deep tech, fintech, healthtech and edtech.
Michael Lints, Partner golden gate ventureshas relocated to Qatar to oversee the company’s plans to expand its presence in the MENA region and strengthen relationships with Qatari investors.
The announcement coincided with the Qatar Economic Forum, where the fund was announced.
michael lintz
Mr. Lindt said:
“Qatar is at a critical moment in its development as a global economy, and MENA Fund I will build on the extensive social and financial capital of its investors to strengthen its startup ecosystem.”
Hussein Abdullah
Hussein Abdullah, Senior Advisor at Golden Gate Ventures, highlighted the fund’s benefits to the Qatari economy.
“We aim to support entrepreneurs, attract talent, create jobs and attract foreign direct investment.”
Golden Gate Ventures also introduced a primer on Qatar’s startup ecosystem titled “Qatar Rising: Where Ambition and Capital Converge.”
This document outlines how a variety of factors, including economic policy and the investment environment, have positioned Qatar as a progressive global economy over the past decade.
Featured image credit: forbes
