Golden Gate Ventures, a Singapore-based enterprise capital agency, has efficiently closed the primary US$100 million MENA fund. It’s stated to be the primary worldwide VC fund to be arrange and managed inside Qatar.
In accordance with Forbes, the fund contains US$20 million in commitments from Qatari traders. The anchor traders embody Al Khor Holding, Al Attiya Group, and Sheikh Jassim Bin Jabor Al Thani.
The fund will goal startups in sectors akin to different power, inexperienced know-how, B2B synthetic intelligence (AI), energy-related deep tech, fintech, well being tech, and edtech.
Michael Lints, Associate at Golden Gate Ventures, has relocated to Qatar to supervise the agency’s plans to increase its presence within the MENA area and strengthen ties with Qatari traders.
The announcement coincides with the Qatar Financial Discussion board, the place the fund was unveiled.
Michael Lints
Lints stated,
”Qatar is at an vital level in its growth as a world financial system and MENA Fund I’ll supercharge the startup ecosystem, constructing on the in depth social and monetary capital of our traders.”
Hussain Abdulla
Hussain Abdulla, Senior Advisor at Golden Gate Ventures, highlighted the fund’s advantages to the Qatari financial system,
“We purpose to help entrepreneurs, entice expertise, create jobs, and entice international direct investments.”
Golden Gate Ventures additionally launched a primer on Qatar’s startup ecosystem titled “Qatar Rising: The place Ambition and Capital Converge.”
The doc outlines how varied components, together with financial coverage and funding panorama, have positioned Qatar as a progressive world financial system over the previous decade.
Featured picture credit score: Forbes
