Qatar Wealth Fund Invests in London-Based Venture Capital Firm Utopia - Bloomberg
The Qatar Investment Authority has invested in London-based Utopia Capital Management, which focuses on startup investments in emerging and frontier markets.
QIA is making a “multimillion-dollar” investment into Utopia Capital, which will open its Middle East headquarters in Doha, according to a statement reviewed by Bloomberg News. QIA’s investment marks one of the first capital deployments from its Fund of Funds program that aims to develop startups and venture capital in Qatar.
Utopia Capital primarily invests in tech-enabled startups in Africa and Southeast Asia. It has raised $200 million from investors with eight offices globally, its website shows.
Qatar’s prime minister, Sheikh Mohammed Al Thani, launched the Fund of Funds program in February 2024 to foster innovation in the country and support local and regional entrepreneurs. The program aims to invest more than $1 billion in international and regional venture capital funds and will place a priority focus on technology and health care sectors.
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