$475 Billion Sovereign Wealth Fund Qatar Investment Authority Launches $1 Billion Venture Capital Fund of Funds to Invest in International & Regional Venture Capital Funds with Focus on Tech Sector, Fintech, Edtech & Healthcare Sector, Will Also Co-invest Directly into Companies with Participating Funds, Venture Capital Funds Required to Generate Market-Level Commercial Returns & Support Sustainable Development of Venture Capital & Startup Ecosystem in Line with Qatar National Development Strategy NDS3
2nd March 2024 | Hong Kong
Qatar sovereign wealth fund Qatar Investment Authority (QIA) with $475 billion AUM (Assets under Management) has announced the launch of a $1 billion venture capital fund of funds (FOF) to invest in international & regional venture capital funds with focus on tech sector, fintech, edtech & healthcare sector, and will also co-invest directly into companies with the participating funds. Venture capital funds are required to generate market-level commercial returns and to support sustainable development of venture capital & startup ecosystem in line with Qatar National Development Strategy (NDS3). Announcement: “The program will aim to attract leading international VC funds and entrepreneurs both to Qatar and the wider GCC region, bringing deep VC and start-up expertise, and contributing to the growth of a local and region base of venture capitalists and founders. The program will place a priority focus on the tech sector, including fintech and edtech, as well as the healthcare sector. It will primarily invest indirectly via other VC funds, but will be able to make targeted co-investments with the participating funds. The Fund of Funds program will only invest in VC funds and not invest in private equity, debt, or any other funds. The program aims to make important strides towards closing a current funding gap which exists for local and regional entrepreneurs. Fund managers wishing to raise funds will need to demonstrate a solid track record, including consistently strong commercial performance. Alongside this, fund managers will be required to show a commitment to Qatar and be set to play an active role in the GCC VC and start-up ecosystem. Commitments that may be required include establishing an operational footprint in Qatar, highlighting organic expansion plans across the GCC, and setting up a senior-level presence in Qatar. In line with the program’s dual investment mandate, international, regional, and emerging local fund managers will be part of the program. The program will collaborate closely with the wider VC and start-up ecosystem in Qatar to ensure maximum synergies and to support VC funds to maximize their participation in any initiatives.” Qatar Investment Authority (QIA) is the sovereign wealth fund of the State of Qatar. QIA was established in 2005 to protect and grow Qatar’s financial assets and to diversify the economy. More info below:
“ $475 Billion Sovereign Wealth Fund Qatar Investment Authority Launches $1 Billion Venture Capital Fund of Funds to Invest in International & Regional Venture Capital Funds with Focus on Tech Sector, Fintech, Edtech & Healthcare Sector, Will Also Co-invest Directly into Companies with Participating Funds, Venture Capital Funds Required to Generate Market-Level Commercial Returns & Support Sustainable Development of Venture Capital & Startup Ecosystem in Line with Qatar National Development Strategy NDS3 “
QIA CEO, HE Mansoor Ebrahim Al-Mahmoud: “There is currently no dedicated pool of capital in Qatar for companies that are past seed funding and are ready for Series A to Series C funding rounds. Building a well-connected start-up ecosystem network in Qatar is fundamental to diversifying the country’s economic base in the long term. QIA is launching this program to help ensure that innovative businesses can readily access capital and support from VC funds, enabling them to scale operations and expand market presence in Qatar, across the GCC, and ultimately onto the international stage.”
$475 Billion Sovereign Wealth Fund Qatar Investment Authority Launches $1 Billion Venture Capital Fund of Funds to Invest in International & Regional Venture Capital Funds with Focus on Tech Sector, Fintech, Edtech & Healthcare Sector, Will Also Co-invest Directly into Companies with Participating Funds, Venture Capital Funds Required to Generate Market-Level Commercial Returns & Support Sustainable Development of Venture Capital & Startup Ecosystem in Line with Qatar National Development Strategy NDS3
26th February 2024 – Qatar Investment Authority (QIA) is set to launch Qatar’s first venture capital (VC) Fund of Funds, a strategic investment program to foster innovation in Qatar. The Fund of Funds program will invest more than USD 1 billion in international and regional venture capital funds.
The program will have two key objectives. It will generate market-level commercial returns in line with QIA’s mandate to secure sustainable, long-term returns to the people of Qatar. At the same time, it will support the sustainable development of a vibrant VC and start-up ecosystem in line with Qatar’s National Development Strategy (NDS3), which seeks to increase the number of startups and the availability of VC funding in the local market.
- The program will aim to attract leading international VC funds and entrepreneurs both to Qatar and the wider GCC region, bringing deep VC and start-up expertise, and contributing to the growth of a local and region base of venture capitalists and founders. The program will place a priority focus on the tech sector, including fintech and edtech, as well as the healthcare sector. It will primarily invest indirectly via other VC funds, but will be able to make targeted co-investments with the participating funds. The Fund of Funds program will only invest in VC funds and not invest in private equity, debt, or any other funds.
- The program aims to make important strides towards closing a current funding gap which exists for local and regional entrepreneurs.
- Fund managers wishing to raise funds will need to demonstrate a solid track record, including consistently strong commercial performance. Alongside this, fund managers will be required to show a commitment to Qatar and be set to play an active role in the GCC VC and start-up ecosystem. Commitments that may be required include establishing an operational footprint in Qatar, highlighting organic expansion plans across the GCC, and setting up a senior-level presence in Qatar.
- In line with the program’s dual investment mandate, international, regional, and emerging local fund managers will be part of the program. The program will collaborate closely with the wider VC and start-up ecosystem in Qatar to ensure maximum synergies and to support VC funds to maximize their participation in any initiatives.
- This highly strategic initiative will accelerate the development of Qatar’s venture capital ecosystem, providing both financial resources and infusing global best practices and networks into the local market.
More details on the fund launch will be announced by QIA in due course.
Qatar Investment Authority (QIA)
Qatar Investment Authority (QIA) is the sovereign wealth fund of the State of Qatar. QIA was established in 2005 to protect and grow Qatar’s financial assets and to diversify the economy.
Qatar Sovereign Wealth Fund Qatar Investment Authority Invests $200 Million in Hong Kong-Listed Software & Enterprise Cloud Group Kingdee International for 4.26% Shareholding, Kingdee with $4.8 Billion Market Value is Founded in 1993 & Headquartered in China Shenzhen
14th December 2023 – Qatar sovereign wealth fund Qatar Investment Authority (QIA) has announced the investment of $200 million in Hong Kong-listed software & enterprise cloud group Kingdee International for 4.26% shareholding. Kingdee (14/12/23: $4.8 billion market value) is founded in 1993 & is headquartered in China Shenzhen. Announcement: “The investment in Kingdee aligns with QIA’s strategic approach to invest in companies and technologies that are leading global digitalization and shaping the future enterprise ecosystem.” In July 1991, Mr. Xu Shaochun, the founder of the group, founded “Shenzhen Aipu Computer Technology Co Ltd.
Shaochun XU, Chairman of the Board and CEO of Kingdee: “This Strategic Investment underscores Kingdee’s increasingly leading position in China’s enterprise digital management industry and further supports our international growth strategy.”
Mohammed Al-Hardan, Head of Technology, Media and Telecommunications (TMT) Department at QIA: “Qatar Investment Authority is committed to investing in technology companies driving global innovation. We believe in the long-term growth opportunity of Asia’s software sector and recognise Kingdee as a category leader and key enabler of enterprise cloud transformation. We are pleased to add Kingdee to our growing Asia TMT portfolio.”
Qatar Sovereign Wealth Fund Qatar Investment Authority Invests $200 Million in Hong Kong-Listed Software & Enterprise Cloud Group Kingdee International for 4.26% Shareholding, Kingdee with $4.8 Billion Market Value is Founded in 1993 & Headquartered in China Shenzhen
About Kingdee
Kingdee International Software Group Company Limited (“Kingdee”), established in 1993, is a globally renowned enterprise management cloud SaaS company. Kingdee is listed on the Main Board of the Hong Kong Stock Exchange (Stock Code: 0268.HK) and headquartered in Shenzhen, China. Adhering to the core values of “Acting in all Conscience, with Integrity and Righteousness”, Kingdee takes the mission of “serving the enterprise wholeheartedly and growing together with users around the world.” Kingdee is committed to becoming the “most trustworthy enterprise service platform”. Kingdee’s major cloud service products have been selected by industry lighthouse customers, including Kingdee Cloud Cosmic (packageable enterprise-grade PaaS platform), Kingdee Cloud Constellation (large enterprise SaaS management solution), Kingdee Cloud Galaxy (high-growth enterprise SaaS management solution), Kingdee Cloud Stellar (small and micro enterprise SaaS management solution). Kingdee has provided management software and cloud services for more than 7.4 million enterprises, governments, and organizations across the world.
About QIA
Qatar Investment Authority (“QIA”) is the sovereign wealth fund of the State of Qatar. QIA was founded in 2005 to invest and manage the State’s reserve funds. QIA is among the largest and most active sovereign wealth funds globally. QIA invests across a wide range of asset classes and regions, in partnership with leading institutions around the world, to build a global and diversified investment portfolio with a long-term perspective that can deliver sustainable returns and contribute to the prosperity of the State of Qatar.
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