Singapore’s Golden Gate Ventures Closes US$100 Million MENA Fund

Singapore’s Golden Gate Ventures Closes US$100 Million MENA Fund

by May 16, 2024

Golden Gate Ventures, a Singapore-based venture capital firm, has successfully closed the first US$100 million MENA fund. It is said to be the first international VC fund to be set up and managed within Qatar.

According to Forbes, the fund includes US$20 million in commitments from Qatari investors. The anchor investors include Al Khor Holding, Al Attiya Group, and Sheikh Jassim Bin Jabor Al Thani.

The fund will target startups in sectors such as alternative energy, green technology, B2B artificial intelligence (AI), energy-related deep tech, fintech, health tech, and edtech.

Michael Lints, Partner at Golden Gate Ventures, has relocated to Qatar to oversee the firm’s plans to expand its presence in the MENA region and strengthen ties with Qatari investors.

The announcement coincides with the Qatar Economic Forum, where the fund was unveiled.

Michael Lints

Michael Lints

Lints said,

”Qatar is at an important point in its development as a global economy and MENA Fund I will supercharge the startup ecosystem, building on the extensive social and financial capital of our investors.”

Hussain Abdulla

Hussain Abdulla

Hussain Abdulla, Senior Advisor at Golden Gate Ventures, highlighted the fund’s benefits to the Qatari economy,

“We aim to support entrepreneurs, attract talent, create jobs, and attract foreign direct investments.”

Golden Gate Ventures also introduced a primer on Qatar’s startup ecosystem titled “Qatar Rising: Where Ambition and Capital Converge.”

The document outlines how various factors, including economic policy and investment landscape, have positioned Qatar as a progressive global economy over the past decade.

 

Featured image credit: Forbes