Doha:Qatar Investment Authority announced that Activate Capital, a US-based firm specializing in growth equity investments in energy technology and smart infrastructure, has joined its $3 billion Fund of Funds program.
According to Qatar News Agency, Activate Capital focuses on investments across various growth stages in sectors such as energy and power, transportation and mobility technologies, digital industry, supply chain resilience, and climate change adaptation.
QIA's commitment through the Fund of Funds program will enable Activate Capital to further its investment strategy in the Global South, emphasizing sectors transitioning towards digitalization and decarbonization. As part of this collaboration, Activate Capital plans to establish its first international office in Doha, staffed by senior investment professionals, including a partner focused on the Qatari market. This move aims to attract both local and international talent, bolstering Qatar's status as a hub for investment and innovation in the Global South.
Launched in February 2024, QIA's Fund of Funds program seeks to attract leading global venture capital firms to Qatar, enhance ties with the global venture capital ecosystem, and promote startup development in Qatar and the region. Dr. Mohsin Pirzada, Head of Funds Investment Department at QIA, stated that the program was launched to strengthen these connections.
Anup Jacob, Co-Founder of Activate Capital, expressed enthusiasm for QIA's involvement as a limited partner and member of the company's Limited Partners Advisory Committee. He emphasized the shared vision between Activate Capital and QIA in leveraging technology-driven solutions to reshape global infrastructure systems and looks forward to a long-term partnership.
Activate Capital's inclusion in QIA's Fund of Funds highlights the program's momentum and the interest from international investors in Qatar. Activate's focus on climate, energy, and industrial infrastructure supports Qatar's National Vision 2030 and underscores the importance of venture capital in sustainable innovation.