Qatar is making significant strides in establishing itself as a key destination for venture capital investment through its $1 billion fund of funds initiative. Spearheaded by the Qatar Investment Authority (QIA), the program is strategically designed to attract global venture capital firms and bolster investments in emerging sectors such as technology, healthcare, and artificial intelligence.
As part of this effort, QIA has welcomed its first group of venture capital fund managers. Among them is B Capital, a technology-focused investment firm co-founded by Facebook’s Eduardo Saverin. The firm, which specializes in enterprise, fintech, healthcare, and climate investments, is setting up its first Middle East office in Doha, signaling confidence in Qatar’s innovation ecosystem. Other firms joining the initiative include Rasmal Ventures, Utopia Capital Management, and Builders VC.
B Capital’s co-CEO, Raj Ganguly, emphasized Qatar’s forward-thinking approach to AI and regulatory sandboxes as a key attraction. “With all the sandboxes that have been created here in the GCC to trial new types of AI, we think it’s an incredibly exciting time,” Ganguly said at Web Summit Qatar in Doha. “We believe innovation can come from anywhere, and we want to back founders from the GCC who have a global mindset.” 
With over $500 billion in assets, QIA is positioning Qatar as a competitive player in the global venture capital landscape. The fund of funds initiative is expected to not only generate strong financial returns but also foster a thriving local startup ecosystem.
Mohsin Pirzada, head of funds at QIA, highlighted the program’s dual mandate. “Firstly, we seek strong commercial returns, and secondly, we aim to create a positive impact across the VC ecosystem in Qatar,” he explained. The initiative seeks to attract venture capital firms committed to long-term investment in the country while boosting deal flow and strengthening Qatar’s private sector.
A Competitive Regional Landscape
Qatar’s efforts to attract venture capital firms come amid increasing competition from neighboring financial hubs. Saudi Arabia has implemented policies requiring companies seeking government contracts to relocate their regional headquarters to Riyadh, drawing Wall Street giants such as Morgan Stanley, Goldman Sachs, Lazard, and BlackRock. Meanwhile, Abu Dhabi has successfully attracted major financial players, including hedge fund Brevan Howard, asset manager PGIM, and private equity firm General Atlantic.
Despite this competitive landscape, QIA’s Pirzada sees the region’s growth as a collective win. “The key word here is ‘complement’—this is a relatively small region, so when one country wins, we all win. If we are all attracting businesses, innovators, and helping companies to scale, we will all benefit.”
With the fund of funds program now in motion, Qatar is reinforcing its position as a dynamic hub for venture capital, leveraging its sovereign wealth fund’s vast resources to drive long-term economic diversification and technological innovation.
