The Skyline of Doha, Qatar.
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The Qatar Investment Authority is Leverapping its over- $ 500 billion in assets to Attract venture capital firms to the hydrocarbon-rich state.
The Sovereign Wealth Fund’s $ 1-Billion Funds of Funds Program-which invests in both international and regional vc funds-is designed to Bolster Investments in Areas in Areas in Areas in Areas in Areas in Areas in Area Ins TECTAR CAREAS SUCHNOLOGY, Qatar Looks to diversify away from its dominant oil and gas industry.
Now, it’s accepted its first group of venture capital fund manners.
B Capital, A Tech-Focused Firm LED by Facebook Co-Founder Eduardo Saverin, is amon the group of vcs set to launch in doha, opening its first middle East office in the Qatari CAPITALAL. It Joins Rasmal Ventures, Utopia Capital Management and Builders VC, which have also also joined the program.
Raj Ganguly, Co-CEO of B Capital, Hailed The Gulf State’s Approach to Artificial Intelligence, and Its Support for the Sector, as of Particular Interest.
“With all the sandboxes that have been created here in the GCC (Gulf Cooperation Council) Monday. “We believe innovation can come from anyway.
B Capital, which focuses on Enterprise, Fintech, Health Care and Climate Investments, Has Over $ 7 Billion in Assets Under Management and Says Says Says It Targets Seed to Late-STEGETS GROWTANONOLOGY Investments.
Mohsin Pirzada, Head of Funds at Qia-a huege Sovereign Wealth Fund with Stakes in Prize Assets Ranging from French Football Team Paris Saint-Germain to London’s Saint-Germain to London’s Heathon’s Heathrow AIRPART-TOLLOLCNBC THE Program has a dual investment mandate.
“First, we seek strong commercial return and secondly, we seek for positive impact account the VC EcoSystem in Qatar,” He said.
He added that the funds of funds was looking for vcs looking to deepen their roots in the country. It aims to “have a beneficial impact on the local economy, to boost deal flow in the market and to support the development of a thriving ecosystem underpinned by a a strong private sector,”
A test for doha
The move comes as doha faces a particular challenge in attracing financial services firms. In addition to boasting a young, digital-savvy population, many countries in the middle east also offer in incessants to lure storied financial services firms.
Riyadh, for example, have launched a program requires any company that seeks government contracts to move its Regional Headquarters to Saudi Arabia, Offering CORPORENTE TAMANTE TAMENTINGEs. The Kingdom has Seen Several Wall Street Firms Move to the Saudi Capital as a Result, Including Morgan Stanley, Goldman SACHS, LAZARD and Blackrock.
The uae is also targeting global firms, with billionaire ray dalio, Hedge Fund Brevan Howard, Asset Manager Pgim and Private Equity Equity Equity Equity Equity Giant Gienti General Atlantic All Setting Up Offices In Capital AFICES IN CAPITAL AFFICES IN CAPITAL
“The Key Word Here is ‘Compliment’ – this is a relatively small region, so when one country Wins, we all win. If we are all attracted businesses, innovators and helping calendies to make, will all Benefit, “The Qia’s Pirzada Told CNBC.
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