Skyline Doha, Qatar.
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Qatar’s investment body uses property over $ 500 billion to attract a risk capital company rich in the country rich in hydrocarbon.
The Fund for Fund for Funds Fund in the amount of $ 1 billion is investing in international and regional VC funds-it is intended to strengthen investments in areas such as technology and health care, as Qatar seems to diversify from its dominant oil and gas industry.
She has now accepted her first group of ventures of a risk capital fund.
B Capital, a company focused on the technology led by Facebook co-founder Eduardo Saver, is one of the VC Group to launch in Doha, opening its first office of the Middle East in the Catar Capital. The vegetation ventures, Utopia Capital Management and the Builders VC, are joined, which also joined the program.
Raj Ganguly, Capital’s Capital Professor, welcomed the approach of the Gulf state with artificial intelligence and his support to the sector, as a special interest.
“With all the sand boxes that have been created here in the GCC (Bay Cooperation Council) to participate in new types of AI, we think it is incredibly exciting time,” Ganguly said on Monday at CNBC on the web Summit in DOHA. “We believe that innovation can come from anywhere. We want to support GCC founders who have a global mindset.”
B Capital, which focuses on companies, Fintech, health and climate investment, has over $ 7 billion in assets under management and says that the aiming of seed investments in growth technology in late stages.
Mohsin Pirzada, Head of the QIA-Ogroman Fund Fund of Sovereign Wealth with Corbs in the Round Property Rank from the French football team Paris Saint-Germain to London’s Heathrow Airport for the CNBC that the program has a double mandate for investment.
“First, we are looking for strong commercial yields, and second, we are looking for a positive impact on the VC Ecosystem in Qatar,” he said.
He added that the funding fund was looking for VC who wanted to deepen their roots in the country. It aims to “have a useful impact on the local economy, increase the flow of work on the market and support the development of a successful ecosystem that has been supported by a strong private sector,” he added.
Test for Doha
This move comes because Doha faces a special challenge in attracting financial services companies. In addition to boasting a young, digital population, many countries in the Middle East also offer incentives for lining for financial services.
Riyadh, for example, has launched a program that requires any company asking for government contracts to move its regional seat to Saudi Arabia, offering incentives for income tax. As a result, the Kingdom saw several Wall Street companies moving to the Saudi capital, including Morgan Stanley, Goldman Sachs, Lazard and Blackkck.
UAE also targets global companies, with billionaire Ray Dalio, Hedge Brevan Howard, Asseta Manager PGIM and Giant Private Capital General Atlantic All set out in the capital of Abu Dhabi.
“The key word here is a” compliment ” – this is a relatively small region, so when one country wins, we all win. If we all attract companies, innovators and help companies to be proportions, we will all benefit,” she told CNBC Pirzada QIA.
