Doha: Qatar Science and Technology Park (QSTP), a member of Qatar Foundation (QF), introduced the launch of its $30m Tech Venture Fund alongside its first cohort of co-investment accomplice funds.
The fund invests in early-stage deep tech startups headquartered in Qatar that ship measurable social or local weather impression, in assist of Qatar’s Third National Development Strategy (NDS3) and QF’s mission.
The fund’s funding thesis is constructed for Qatar’s future, sitting on the intersection of deep tech and impression. It backs founders constructing firms with the potential to generate lasting worth for Qatar’s economic system and innovation ecosystem.
President of QSTP Rama Chakaki mentioned: “The Tech Venture Fund is built on a simple conviction: important companies of the next decade will be deep tech startups with an impact lens, focused on building inclusive, sustainable technologies that serve humanity and the natural world. We’re here to back those founders early and bring the best investors in the world alongside us when we do.”
The fund targets founders constructing on the frontier of AI, machine studying, robotics, biotechnology, superior supplies, and clear know-how, with Qatar serving as a launchpad for regional and international enlargement. Sectors of curiosity embrace EdTech, Well beingTech, ClearTech, AgriTech, PropTech, good infrastructure, aviation know-how, and mobility, amongst others.
Portfolio firms have to be headquartered in Qatar, with a core management staff and operation based mostly domestically. The fund invests in founders creating applied sciences with sturdy industrial potential and the flexibility to deal with main international and regional challenges.
The fund co-invests alongside main native, regional, and international venture capital corporations, enabling Qatar-based startups to entry broader swimming pools of capital, international experience, and worldwide markets.
The first set of co-investment accomplice funds contains Global Ventures, Golden Gate Ventures, White Star Capital, VentureSouq, and Builders VC. Together, the corporations deliver deep sector experience and networks spanning the WANA area, Southeast Asia, North America, Europe, and Asia. Additional co-investment companions can be introduced within the coming weeks.
VentureSouq focuses on supporting high-growth know-how founders within the WANA area throughout FinTech and Climate. Builders VC invests from Qatar in founders utilizing know-how to modernise important industries.