Rasmal Ventures Innovation Fund I named as first fund in QIA's Fund of Funds program
- Editor
- Feb 5
- 1 min read
What's Happening: Rasmal Ventures, Qatar's first independent venture capital company, has secured funding from QIA's $1 billion Fund of Funds program for its inaugural Rasmal Innovation Fund I LLC. This marks the first fund announcement under QIA's program, which was opened to applicants in February 2024.
The Key Moves:
Rasmal Innovation Fund I LLC targets high-performance startups and scaleups across Qatar, MENA, and internationally in sectors including fintech, B2B SaaS, HealthTech, and AI.
The fund aims to reach $100 million in investment commitments from QIA, corporates, family offices, and high-net-worth individuals.
Rasmal Ventures launched its home-grown fund in June 2024 to drive innovation and investment in Qatar and the MENA region.
By The Numbers :
QIA's Fund of Funds program will invest more than $1 billion in international and regional venture capital funds.
Rasmal Innovation Fund I LLC is targeting $100 million in investment commitments.
The fund's management team has collectively managed more than 100 VC deals.
Key Quotes:
Alexander Wiedmer, Co-Managing Partner of Rasmal Ventures: "The trust QIA and our other investors placed in us is a testament to our team's capabilities and dedication."
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The Bottom Line: Rasmal Ventures' inclusion in QIA's Fund of Funds program represents a significant step in developing Qatar's venture capital ecosystem. The fund's focus on innovative technology sectors aligns with Qatar's Third National Development Strategy, aiming to create a robust tech ecosystem with diverse investment opportunities.
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