The Fund of Funds programme is an initiative that channels capital into global and regional venture capital funds to strengthen Qatar’s start-up ecosystem, promote economic diversification, and accelerate growth in the technology and healthcare sectors.

Qatar Investment Authority (QIA) has launched a pioneering venture capital initiative, the Fund of Funds (FoF) programme, as part of a strategic drive to transform the nation into a hub for innovation and entrepreneurship.

The program, first announced in February 2024, will invest more than $1bn in international and regional venture capital funds and will place a priority focus on the tech and healthcare sectors.

Fund of Funds programme is an initiative channelling capital into global and regional venture capital funds to strengthen Qatar’s start-up ecosystem, drive economic diversification, and accelerate growth in tech and healthcare sectors.

Following an 18-month diagnostic study, the programme aims to address systemic challenges in Qatar’s start-up ecosystem, notably a critical funding gap, while attracting global venture capital (VC) funds and nurturing homegrown talent.

With a dual mandate to deliver financial returns and catalyse economic development, the FoF has committed over $1bn to invest in international and regional VC funds, prioritising technology and healthcare sectors.

The programme, which welcomed its first cohort of fund managers in 2024, operates by channelling capital through established VC firms and targeted co-investments.

Its structure emphasises partnerships with fund managers who demonstrate proven track records and a commitment to Qatar’s growth.

“QIA is taking the lead, working closely with various stakeholders,” said Abdulla Mohammed Al Ansari, Qatar Funds Director at QIA, told Doha News.

He underscored the initiative’s role in fostering collaboration across entities, with funding acting as the “primary driver” to spur ecosystem development.

Central to the FoF’s objectives is the creation of a dynamic start-up landscape that bridges funding shortages while providing entrepreneurs with mentorship, accelerators, and operational support.

By integrating global best practices, the programme seeks to stimulate economic diversification, enhance local talent pools, and advance sectors aligned with Qatar National Vision 2030.

“Our goal is to guide and enhance the ecosystem, ensuring its sustainable growth,” Al Ansari explained, noting the initiative’s alignment with national strategies to boost innovation under the NDS3 framework.

A cornerstone of the programme lies in its partnerships with a diverse array of VC managers.

Among them is a local fund investing in tech start-ups across the MENA region, supporting both regional entrepreneurs and international firms expanding into Qatar.

UTOPIA, operating from its new office in Doha, focuses on early-stage ventures in FinTech, HealthTech, and ClimateTech, while another Doha-based VC targets transformative technologies in healthcare, agriculture, and real estate.

Additional collaborators include a multi-stage firm specialising in talent recruitment for tech start-ups, Deerfield—a healthcare-focused investment manager—and an innovative tech investor scaling companies through global networks.

Al Ansari highlighted milestones achieved since the programme’s inception, including secured commitments to establish regional headquarters and offices in Qatar, alongside the rollout of accelerators and mentorship schemes.

“If we examine the world’s largest economies, we see that their success is driven by strong ecosystems and significant investment in innovation,” he remarked, drawing parallels to Qatar’s ambitions.

The FoF aims not only to attract capital but also to cultivate a culture conducive to entrepreneurial risk-taking, positioning Qatar as a destination for both local and international innovators.

The long-term vision for the FoF programme extends beyond financial injections. By addressing structural barriers and fostering cross-sector collaboration, QIA envisions a self-sustaining ecosystem that drives job creation, sectoral advancement, and global competitiveness.

“We remain committed to investing in fund managers and continuously supporting Qatar’s ecosystem,” Al Ansari affirmed, emphasising the importance of creating an environment where ideas can flourish.

As the initiative evolves, its success may well serve as a blueprint for emerging economies seeking to harness innovation as an engine of growth.

In a region increasingly defined by its appetite for technological disruption, Qatar’s FoF programme signals a bold step towards securing a foothold in the global start-up arena.