Doha – Sharikat Mubasher: Rasmal Ventures, a Qatari venture capital firm founded in 2023, announced raising funds from the Qatar Investment Authority (QIA) through its $1 billion fund-of-funds program.

The funding has been allocated to the “Rasmal Innovation Fund 1,” launched in June 2024, which targets high-growth startups in fintech, health tech, business software, and artificial intelligence, according to an official press release.

By offering financial support and strategic guidance, the fund aims to help these startups scale and compete globally.

This milestone underscores Rasmal’s mission to support emerging and innovative startups in Qatar and the broader region.

As the first fund to join the QIA program, the “Rasmal Innovation Fund 1” has raised significant capital from QIA, family offices, high-net-worth individuals, and corporate investors. The fund is actively seeking additional commitments to reach its $100 million investment target.

This initiative reflects QIA’s commitment to fostering economic diversification and innovation in the region while building a robust entrepreneurial ecosystem. By accelerating the growth of key technology sectors, the program emphasizes the importance of collaboration between public and private sectors to drive sustainable economic development and long-term innovation.