Interview: Mohsin Pirzada, Head of Funds, Qatar Investment Authority, on how international venture capital firms (VC) are fuelling growth in the country’s start-up ecosystem
How has the arrival of international VC firms in Doha contributed to building a more mature investment ecosystem in Qatar?
MOHSIN PIRZADA: The presence of international VC firms in Doha is playing a transformative role across several key areas. First, it is helping to bridge critical funding gaps by enabling early- and growth-stage start-ups to access capital from leading global investors – ensuring promising ventures can scale with confidence. Second, the involvement of global venture funds is fostering talent development by bringing expertise, networks and operational know-how to the local market, thereby creating significant learning opportunities for Qatar-based entrepreneurs. Third, the ecosystem offers clearer pathways for founders to fundraise and commercialise their ideas, both locally and regionally – this serves as an important step in building a dynamic entrepreneurial pipeline. Lastly, the growing presence of international VCs has further enabled a more connected and collaborative investment environment.
Many firms have already committed to launching strategic initiatives such as a venture studio and an artificial intelligence lab, enriching Qatar’s innovation landscape. At the February 2025 Web Summit Qatar in Doha, where more than 200 Qatari start-ups participated, the strength and momentum of the country’s start-ups ecosystem were on display. The influx of global VC is helping build a more mature, sophisticated and globally connected investment landscape.
Where can the country further leverage its sovereign capital and regulatory environment to position itself as a regional nexus for VC?
PIRZADA: In recent years, a broader suite of government-backed initiatives has been created to streamline services, provide targeted support and drive economic diversification. Complementing these effort are institutions such as Qatar Financial Centre (QFC); the Qatar Development Bank (QDB); the Qatar Research, Development and Innovation Council; and the Qatar Science and Technology Park. These organisations are all working towards a goal of positioning the country as a competitive node for VC and early-stage investment.
To what extent does the presence of global VC players in Qatar influence local entrepreneurs’ access to mentorship, networks and cross-border capital?
PIRZADA: Providing holistic support to the local ecosystem is a core public policy objective. Many global VC funds that were onboarded through the programme have committed to launching high-impact initiatives. These measures go beyond capital deployment, creating new avenues for mentorship, knowledge transfer and global exposure for local entrepreneurs. In addition to attracting private capital, these efforts are helping build a more mature and connected ecosystem – one where capable founders have access not only to funding, but also to the tools, guidance and networks required to scale their ventures.
What challenges remain in developing a competitive and innovation-driven capital market?
PIRZADA: Qatar’s VC ecosystem has significantly expanded in recent years, supported by a wide range of government initiatives and hands-on entities such as the QDB and QFC. Still, structural challenges persist that are set to be addressed. A key issue is the historically low volume of later-stage venture transactions, which creates uncertainty for investors and constrains deal flow. This is being mitigated by attracting established global venture funds and encouraging them to invest in Series A and later-stage rounds within the local market. Another challenge has been the limited pool of co-investors willing to back funds investing in Qatari start-ups. With six top-tier funds confirmed, a strong foundation of co-investment partners is in place, helping to strengthen confidence and accelerate activity across Qatar’s innovation-driven capital market.
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