Rasmal Ventures Joins Forces with QIA to Supercharge MENA’s Startup Revolution
Doha, February 5, 2025 – We at Rasmal Ventures, Qatar’s first independent VC firm, are proud to announce that we have secured strategic funding from the Qatar Investment Authority (QIA) as part of its $1 billion Fund of Funds program. This investment strengthens our ambition to drive technological innovation and economic diversification across the MENA region.
A Transformational Milestone in MENA’s Venture Capital Scene
Our flagship Rasmal Innovation Fund I LLC, launched in June 2024, is at the forefront of investing in high-growth startups across fintech, B2B SaaS, HealthTech, supply chain logistics, and artificial intelligence (AI). As the first fund to join QIA’s $1 billion program, we have already secured commitments from institutional investors, corporates, family offices, and high-net-worth individuals, with the goal of reaching $100 million in total investment commitments.
“This funding marks a pivotal moment for Qatar’s venture capital ecosystem,” said Alexander Wiedmer, Co-Managing Partner at Rasmal Ventures. “As the first private VC fund based in Doha, we are leveraging our deep-rooted partnerships with leading Qatari institutions to nurture disruptive startups that can redefine industries. We are still in the early stages of capital deployment, but our first investments in proprietary technology startups are already demonstrating high potential.”
Backing the Next Generation of Tech Titans
At Rasmal Ventures, we are proud to have a seasoned team of VC experts with a track record of over 100 venture capital deals and successful exits. Our fund is designed to support pre-Series A, Series A, and Series B companies, ensuring that the most promising startups get the funding and strategic guidance needed to scale globally.
Beyond financial investment, we are deeply committed to hands-on engagement with our portfolio companies, providing operational expertise, market access, and business development support to help them scale rapidly.
Strategic Alignment with Qatar’s Vision for Innovation
The launch of Rasmal Innovation Fund I LLC aligns seamlessly with Qatar’s Third National Development Strategy (NDS3), which emphasizes economic diversification and the creation of a robust technology ecosystem. Our Fund aims to foster an innovation-driven environment where entrepreneurs can access capital, mentorship, and international networks.
QIA’s Fund of Funds: A Catalyst for Regional Growth
The QIA Fund of Funds program, launched in February 2024, is a game-changer for the startup and venture capital ecosystem in Qatar and beyond. With a dual mandate to generate strong financial returns while accelerating regional entrepreneurship, the program prioritizes technology and healthcare investments.
By securing QIA’s backing, we are further cementing our position as a leading player in MENA’s venture capital scene, poised to scale innovative startups that can redefine industries on a global scale.
Looking Ahead: A New Era for MENA’s Startup Ecosystem
With a clear investment thesis focused on high-potential technology sectors, we are set to play a critical role in shaping the future of entrepreneurship in Qatar and the MENA region.
As we continue to raise additional commitments, we remain steadfast in our mission to identify, support, and scale the next generation of transformative startups. With a selective investment approach and deep industry expertise, we are not just deploying capital—we are building the foundation for a thriving innovation ecosystem in MENA.
