Rasmal Ventures: Innovation Fund I Takes Lead in QIA’s $1B Fund of Funds

Funding | Feb 05, 2025 | PR Newswire Cision Rasmal Ventures

Rasmal Ventures, Qatar’s premier independent venture capital firm, has inaugurated its first fund, Rasmal Innovation Fund I, as the debut participant in QIA's $1 billion Fund of Funds program. Launched in June 2024, the fund targets high-performance startups in the MENA region and globally, with a special interest in technology sectors such as fintech and AI. This announcement highlights Rasmal's commitment to fostering local innovation, aligned with Qatar's national development strategy. Through financial backing from QIA and other investors, Rasmal Ventures aims to solidify its presence and execute a selective investment strategy. The overarching goal is to build a vibrant tech ecosystem, bridging the funding gap in the region.

Sectors

  • Venture Capital
  • Technology

Geography

  • Qatar – Rasmal Ventures and QIA are based in Qatar, and the fund primarily focuses on the region's technology ecosystem.
  • MENA Region – The fund aims to drive innovation across the Middle East and North Africa, targeting regional startups and tech sectors.

Industry

  • Venture Capital – Rasmal Ventures is a venture capital firm, and the article discusses its inaugural fund and its role in QIA's $1 billion program.
  • Technology – The fund targets investments in fintech, HealthTech, B2B SaaS, and AI, which are key sectors within the technology industry.

Financials

  • $1 billion – QIA's total commitment to the Fund of Funds program.
  • $100 million – Target investment commitments for Rasmal Innovation Fund I.

Participants

NameRoleTypeDescription
Rasmal Ventures LLCVenture Capital FirmCompanyQatar's first independent VC firm, leading the Innovation Fund I initiative.
Qatar Investment Authority (QIA)InvestorCompanyQIA backs Rasmal Venture's fund as part of its $1 billion Fund of Funds program.
Rasmal Innovation Fund I LLCInvestment FundCompanyRasmal's inaugural fund aimed at high-performance technology startups and scaleups.
Alexander WiedmerCo-Managing Partner of Rasmal VenturesPersonOne of the key figures managing Rasmal Ventures and involved in executing the fund's strategy.