Doha – Sharikat Mubasher: Qatar expanded its sovereign-backed venture capital push, with the Qatar Investment Authority’s (QIA) Fund of Funds program now reaching a total commitment of $3 billion.

As per an official press release, this expansion was announced by Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani, Prime Minister and Minister of Foreign Affairs, during his opening address at Web Summit Qatar 2026. The move includes an additional $2 billion in funding, building on the program’s initial $1 billion allocation launched in 2024.

Alongside the funding increase, five new venture capital funds have joined the program: Greycroft, Ion Pacific, Liberty City Ventures, Shorooq, and Speedinvest. The funds span sectors including AI, fintech, blockchain, infrastructure, and special situations, bringing the total number of regional and international fund managers supported under the program to 12.

Mohammed Saif Al-Sowaidi, CEO of QIA, said the caliber of incoming firms highlights Qatar’s growing appeal as an investment hub. He added that the new funds, which collectively manage nearly $10 billion in assets, are expected not only to bring expertise to local startups but also to encourage portfolio companies to establish regional headquarters in Doha.

Launched at Web Summit 2024, QIA’s Fund of Funds program aims to attract global venture capital talent, expand access to funding for startups, and support Qatar’s economic diversification strategy by strengthening its venture capital and innovation ecosystem.