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Golden Gate Ventures lands first close of their $100 million Mena Fund
Al Khor Holding, Al Attiya Group, and Sheikh Jassim bin Jabor Al Thani led the new fund represents a major step forward in Golden Gate Ventures’ ambitions to drive innovation and entrepreneurship in the Mena region
Michael Lints, Partner at Golden Gate Ventures, and Hussain Abdulla, Senior Advisor at Golden Gate Ventures. In the background, Golden Gate Ventures’ Doha office.
Golden Gate Ventures, a venture capital fund founded by Silicon Valley natives, has announced its first $100 million Mena fund with $20 million in commitments from some of Qatar’s most prominent families: anchor investor, the multi-faceted Al Khor Holding with 60 years of heritage; the Al Attiya Group known widely for its tremendous support for developing local businesses; and Sheikh Jassim bin Jabor Al Thani.
The announcement of the first close of its $100 million Mena Fund I backed by the pillars of Qatar’s private business community represents a major step forward in Golden Gate Ventures’ ambitions to drive innovation and entrepreneurship in the Mena region. The fund combines the aggregate regional influence of its investors and the deep startup ecosystem development experience of Golden Gate Ventures spanning Silicon Valley and Asia.
Golden Gate Ventures Mena Fund I is the first international venture capital fund to be established and managed within Qatar. Michael Lints, Partner at Golden Gate Ventures, has moved to Qatar to deepen the firm’s Mena commitment.
“We are extremely honored to partner with Al Khor Holding, Al Attiya Group and Sheikh Jassim bin Jabor Al Thani, on our inaugural fund in MENA. Their collective impact in the region is invaluable and underscores Qatar’s commitment to the regional startup ecosystem. Mena is emerging as a growing innovation hub, with Qatar rising as a beacon of progress. The combination of a supportive government with progressive economic policies; a strong emphasis on diversification and innovation; a well-educated and diverse population; and a thriving entrepreneurial spirit positions Qatar for remarkable growth. This reminds me of the early days in Singapore in 2011, when Golden Gate Ventures set up ahead of all the VCs that followed soon after,” said Vinnie Lauria, Founding Partner at Golden Gate Ventures.
“At Al Khor Holding, we are strong advocates for the continuous development and expansion of new industries and sectors within the Qatari business landscape. It is with great pride that we announce our decision to become an anchor investor in the Golden Gate Ventures Mena Fund I, marking a significant milestone as the first international venture capital fund established and managed in Qatar.
Furthermore, we are confident that our collaboration with Golden Gate Ventures Mena Fund I will yield tangible benefits for Qatar's socio-economic landscape. By facilitating the emergence of innovative solutions, creating employment opportunities, and supporting the national development agenda, we are contributing to the realisation of Qatar's vision 2030 and for a diversified, knowledge-based economy,” said a representative of Al Khor Holding.
This announcement comes when Qatar’s economic prowess and emerging startup ecosystem are in the spotlight. Mena Fund I was unveiled with the Qatar Economic Forum kicking off in the background, with thousands of global business leaders converging in Qatar to discuss the Gulf nation’s trajectory on the global stage.
Earlier in the year, the Web Summit in Qatar drew the largest startup gathering in the Middle East, highlighting the growing startup scene in the region.
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