In a significant development, Golden Gate Ventures, a venture capital fund founded by Silicon Valley natives, today announced the first close of its US$100M MENA Fund I, backed by prominent Qatari families and entities. The anchor investor is the multi-faceted Al Khor Holding, with a 60-year heritage, along with the Al Attiya Group, widely known for its tremendous support in developing local businesses, and Sheikh Jassim Bin Jabor Al Thani.
The announcement represents a major step forward in Golden Gate Ventures’ ambitions to drive innovation and entrepreneurship in the MENA region. The fund combines the regional influence of its Qatari investors and Golden Gate Ventures’ deep experience in startup ecosystem development spanning Silicon Valley and Asia. Notably, Golden Gate Ventures MENA Fund I is the first international venture capital fund to be established and managed within Qatar. Michael Lints, Partner at Golden Gate Ventures, has relocated to Qatar to deepen the firm’s commitment to the MENA region.
“We are extremely honored to partner with Al Khor Holding, Al Attiya Group, and Sheikh Jassim Bin Jabor Al Thani on our inaugural fund in MENA. Their collective impact in the region is invaluable and underscores Qatar’s commitment to the regional startup ecosystem,” said Vinnie Lauria, Founding Partner at Golden Gate Ventures. “MENA is emerging as a growing innovation hub, with Qatar rising as a beacon of progress. The combination of a supportive government with progressive economic policies, a strong emphasis on diversification and innovation, a well-educated and diverse population, and a thriving entrepreneurial spirit positions Qatar for remarkable growth.”
A representative from Al Khor Holding expressed confidence in the collaboration, stating, “By facilitating the emergence of innovative solutions, creating employment opportunities, and supporting the national development agenda, we are contributing to the realization of Qatar’s vision 2030 and a diversified, knowledge-based economy.”
This announcement comes as Qatar’s economic prowess and emerging startup ecosystem are in the spotlight, with the Qatar Economic Forum drawing thousands of global business leaders to discuss the Gulf nation’s trajectory on the global stage. Earlier this year, the Web Summit in Qatar drew the largest startup gathering in the Middle East, highlighting the growing startup scene in the region.
Yousuf Mohamed Al-Jaida, Chief Executive Officer of the Qatar Financial Centre, said, “The launch of Golden Gate Ventures in Qatar represents a notable progression towards diversifying the venture capital sector. Golden Gate Ventures’ expansion into the region, marked by the establishment of their headquarters in Qatar, is poised to nurture a thriving business environment, accelerate entrepreneurship, and foster growth within Qatar’s startup ecosystem.”
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