Rasmal Ventures, Qatar’s first independent VC firm, established in 2023, has secured funding from the Qatar Investment Authority (QIA) under its Fund of Funds programme.
The investment will support Rasmal Ventures’ first fund, Rasmal Innovation Fund I LLC, which focuses on high-growth startups in fintech, B2B SaaS, health technology, and artificial intelligence.
This marks the first funding announcement under QIA’s US$1 billion Fund of Funds initiative, which opened for applications in February 2024.
The fund has received backing from QIA, corporate investors, family offices, and high-net-worth individuals, with a target of securing US$100 million in total commitments.
It is available exclusively to professional investors, as defined by QFCRA regulations.
Alexander Wiedmer, Co-Managing Partner of Rasmal Ventures, stated:
“While still in the early stages of investment, we are proud of our initial deals in proprietary technology. The confidence shown by QIA and our investors reflects our team’s expertise. We aim to strengthen our presence in the region and execute a selective investment strategy to become a leading VC player in MENA.”
The fund is managed by a team of experienced professionals who have overseen more than 100 VC deals, including successful exits.
Featured image credit: edited from Unsplash
