UAE-based investment firm Shorooq has officially announced the launch of a $200 million late-stage growth fund, a significant move to bolster the region's technology ecosystem. Unveiled at Web Summit Qatar, the fund is backed by the Qatar Investment Authority (QIA) and other sovereign partners. This initiative, part of the firm's Qatalyst Series, is strategically designed to address a critical gap in late-stage and pre-IPO funding for maturing companies across the Gulf.
Bridging the Pre-IPO Funding Gap
The new fund aims to institutionalize the region’s most underdeveloped investment segment, providing a consistent source of capital for companies preparing for public listings. While the GCC has a robust early-stage venture scene, the capital stack has remained fragmented, leaving late-stage execution undercapitalized. Shorooq's Qatalyst Series is engineered to close this gap, making public-market readiness a repeatable pathway rather than an occasional outcome for regional scale-ups.
As the Gulf enters a new technology cycle marked by concentrated sovereign liquidity, this fund provides the sophisticated, long-duration capital needed for private champions to become public leaders. The strategy targets businesses with proven fundamentals, durable unit economics, and clear pathways to an IPO or other public market exit. This disciplined approach directly addresses the need for structured capital to help companies professionalize ahead of a public offering.
A Full-Stack Investment Evolution
This launch marks a structural evolution for Shorooq, solidifying its position as a full-stack, multi-asset investment platform. The firm now offers comprehensive support across the entire capital stack, from early-stage venture capital and credit strategies to late-stage growth financing. This integrated model allows Shorooq to partner with founders throughout their complete growth journey, from initial conviction to public market execution.
Mahmoud Adi, Founding Partner at Shorooq, described the fund as a natural progression of the firm's platform and its partnership with founders. He emphasized that the firm is now uniquely positioned to support companies across all venture stages by pairing capital with hands-on value creation. The backing from QIA reinforces Shorooq's commitment to deploying institutional capital to build enduring, category-defining companies in the region.
Sovereign Backing and Strategic Focus
The participation of the Qatar Investment Authority is a major endorsement and part of the sovereign fund's broader $3 billion venture fund of funds initiative to grow its local startup scene. As part of the agreement, Shorooq plans to establish a new office in Doha, further deepening its regional presence. With this latest fund, Shorooq's assets under management have now surpassed the $1 billion milestone across its various strategies.
The fund will target investments in sectors where innovation, scale, and structural demand intersect, including fintech infrastructure, software, and AI. Adi noted that the focus is on companies with real revenue, strong margins, and increasing relevance to national priorities. This reflects a market shift away from a 'growth at any cost' mindset toward businesses that combine scale with operational discipline and governance maturity.
In conclusion, Shorooq's $200 million Qatalyst Series fund represents a pivotal development for the Middle East's technology and capital markets. By providing essential late-stage capital, the initiative not only strengthens Shorooq's platform but also builds critical infrastructure for the next generation of regional tech leaders. This move signals a maturing ecosystem poised to translate private-sector innovation into public-market success stories.
Source: Semafor