Qatar Investment Authority (QIA) and Activate Capital, a US-based growth equity firm focused on intelligent energy and infrastructure technology, have announced a new partnership. Activate Capital has joined QIA's US$3 billion Fund of Funds, a program designed to attract leading venture capital firms to Qatar. Under the agreement, Activate Capital will open its first international office in Doha and deepen its investment focus on digitalization and decarbonization across the Global South.
Investment Focus and Strategic Mandate
Activate Capital invests in companies from Series B through pre-IPO stages across several critical sectors. These include energy and power, terrestrial and space transportation and mobility, digital industry, supply chain resilience, and climate adaptation. The firm partners with companies at inflection points, backing exceptional entrepreneurs who aim to build category-defining platforms of the future.
QIA's Fund of Funds Objectives
QIA launched the Fund of Funds in February 2024 to attract leading international venture capital firms to Qatar and accelerate the development of startups in the wider region. The program is also designed to deepen knowledge sharing with the global venture capital ecosystem and support the growth of local innovation. Activate Capital is the latest venture capital firm to join the initiative, demonstrating its continued momentum and international investor interest in Qatar.
Global South Focus
QIA's commitment through the Fund of Funds will enable Activate Capital to further its investment strategy in the Global South. The partnership focuses on sectors undergoing fundamental digitalization and decarbonization, including energy, mobility, and industrial infrastructure. Activate Capital's expertise in climate and intelligent infrastructure technologies complements the program's existing sectoral coverage and supports sustainable economic development.
Doha Office and Talent Development
Activate Capital will establish its first international office in Doha, staffed with senior investment professionals and a partner focused on the Qatari market. The firm plans to recruit local Qatari and international talent to build a diverse and skilled team. This move reinforces Qatar's position as a platform for investment and innovation across the Global South.
QIA Perspective
Dr. Mohsin Pirzada, Head of Funds at QIA, stated that the Fund of Funds was launched to build bridges between Qatar and the global venture capital ecosystem. He emphasized that Activate Capital brings deep sector expertise that will support Qatar's ambition to become a leading hub for innovation, entrepreneurship, and long-term investment. The partnership aligns with QIA's broader strategy to strengthen the country's venture capital and innovation ecosystem.
Activate Capital Perspective
Anup Jacob, Co-Founder of Activate Capital, welcomed QIA as a Limited Partner and member of the firm's Limited Partners Advisory Committee. He noted that both organizations share a conviction that technology-enabled solutions will play a critical role in transforming infrastructure systems globally. Jacob expressed confidence that the long-term partnership will connect the firm's portfolio, investment strategy, and future Doha office with Qatar's growing innovation ecosystem.
The addition of Activate Capital underscores the sustained interest of leading international investors in Qatar and the broader region. Its focus on climate, energy, and industrial infrastructure expands the sectoral expertise within the Fund of Funds and directly supports Qatar National Vision 2030. The partnership highlights the critical role of venture capital in funding sustainable innovation and developing a diversified knowledge-based economy.