QDB boosts Qatar's VC funding by 135% in 2024
Funding | Feb 07, 2025 | Zawya
Qatar Development Bank (QDB) has reported a 135% increase in venture capital (VC) funding for 2024, achieving an unprecedented QR115mn despite a global downturn in VC investments. This growth positions Qatar as the fourth most active country in the region by deal volume and sixth in total funding within the MENA region. Over the past nine years, QDB has contributed QR302.4mn across eight funds. The fintech sector in Qatar has emerged as a dominant force, cornering 29% of deals and capturing QR46mn, which is nearly triple the funding allocated to aerospace and defence and healthtech sectors. This development is largely attributed to QDB’s strategic investments, including two out of the top five deals in Qatar. Moreover, QDB-backed projects such as Startup Qatar Investment Programme have reinforced the nation's funding ecosystem, drawing significant global interest from investors like Singapore's Fingular and US-based Vertex Energy and Trading. Such progress advances Qatar's VC ecosystem towards its 2030 goals, aiming to boost private sector and investment fund involvement to 70%.
Sectors
- Venture Capital
- Fintech
- Aerospace and Defence
Geography
- Qatar – The article focuses on Qatar's venture capital growth and its contributions to the MENA region's funding dynamics.
- Middle East and North Africa (MENA) – The article places Qatar's venture capital growth in the context of MENA region trends.
Industry
- Venture Capital – The focus of the article is on the growth of venture capital funding in Qatar, spearheaded by QDB.
- Fintech – Fintech emerged as the most transacted industry in Qatar's venture capital sector, taking a significant share of deals and funding.
- Aerospace and Defence – Mentioned as one of the industries receiving significant venture capital funding, particularly with standout deals like Emma Solutions.
Financials
- QR115mn – Total amount of venture capital funding in Qatar in 2024, marking a 135% increase.
- QR302.4mn – Amount QDB invested over nine years into eight funds.
- QR46mn – Funding captured by the fintech sector in Qatar in 2024.
- QR15mn – Largest disclosed deal amount involving Emma Solutions.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Qatar Development Bank (QDB) | Key Player in VC funding | Company | QDB is a central figure in expanding venture capital investment in Qatar. |
| MAGNiTT | Research Collaborator | Company | Provides research data supporting the report on Qatar's VC funding. |
| Fingular | Investor | Company | Singapore-based company participating in Qatar's funding ecosystem. |
| Vertex Energy and Trading | Investor | Company | US-based company involved in international investments in Qatar. |
| Emma Solutions | Deal Recipient | Company | Received the largest disclosed deal in Qatar's aerospace and defence sector. |
| Pass Delivery | Deal Recipient | Company | Notable for a significant deal in the transport and logistics sector. |
| Abdulrahman Hesham al-Sowaidi | CEO | Person | Chief Executive Officer of Qatar Development Bank. |