Rasmal Ventures Innovation Fund I Named As First Fund In Qia's Fund Of Funds Program

Rasmal Ventures LLC, Qatars first independent venture capital VC company, which was established in 2023, has today announced funding from QIA as part of its Fund of Funds program.

The funding is received into Rasmal Ventures inaugural, home-grown venture capital fund, Rasmal Innovation Fund I LLC which targets high-performance startups and scales up across a variety of innovative technology sectors, including fintech, B2B SaaS, HealthTech and AI.

Rasmal Innovation Fund I LLC is the first fund announcement as part of QIAs 1 billion Fund of Funds program announced as open to applicants in February 2024.

To date, the Rasmal Innovation Fund I LLC has closed funding from QIAs Fund of Funds, corporates, family offices and individual high-net-worth investors with an aim to reach 100 million in investment commitments. The Fund is only open to professional investors as defined in QFCRA regulation.

Alexander Wiedmer , Co-Managing Partner of Rasmal Ventures, said As the first private VC fund based in Doha , we have forged strong partnerships with leading Qatari institutions to work closely with exceptional founders, stimulate innovation, and meet the regions unique needs. While still in the early stages of capital deployment, we take pride in our first investments in proprietary tech startups. The trust QIA and our other investors placed in us is a testament to our teams capabilities and dedication. We will continue to grow our presence across the region and execute our highly selective investment strategy to establish ourselves as a key player in the MENA VC landscape.