New $100 Million MENA Fund from Golden Gate Ventures Gains Qatari Support

New $100 Million MENA Fund from Golden Gate Ventures Gains Qatari Support

By Staff Writer, 17 May 2024

Singapore-based venture capital firm Golden Gate Ventures has secured its inaugural $100 million MENA fund, with $20 million in commitments from Qatari investors.

This marks the firm’s strategic expansion into the MENA region.

Anchor investors for the fund include prominent Qatari entities such as Al Khor Holding, Al Attiya Group, and Sheikh Jassim Bin Jabor Al Thani, according to a statement from Golden Gate Ventures.

Notably, this fund is the first international VC fund to be established and managed within Qatar.

Hussain Abdulla, Senior Advisor at Golden Gate Ventures, highlighted the fund's potential impact on the Qatari economy, emphasizing its role in fostering entrepreneurship, attracting talent, creating jobs, and boosting foreign direct investments.

The fund aims to support startups across various sectors, including alternative energy, green technology, B2B artificial intelligence (AI), and energy-related deep tech.

Additionally, it will invest in fintech, health tech, and edtech ventures.

Source: Samra Ahmed / Forbes

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