The Ansbacher Group, Oxford Capital Partners and Qatar National Bank (QNB) have joined forces to create Qatar Capital Partners, a venture capital business focused on developing technology
The Ansbacher Group, Oxford Capital Partners and Qatar National Bank (QNB) have joined forces to create Qatar Capital Partners, a venture capital business focused on developing technology within Qatar.
The consortium draws on the core expertise of each of the participants and has successfully bid to act as fund manager for two Qatar Science & Technology Park (QSTP) venture capital funds.
The joint venture will manage the QSTP New Enterprise Fund and the QSTP Technology Venture Fund. These funds will invest in science and technology companies based within QSTP with the potential for significant growth.
The New Enterprise Fund moves technology from the lab bench to the marketplace by supplying the seed and early stage founding capital for new businesses. The Technology Venture Fund invests in growth-stage technology companies, helping them to scale-up production and expand their technology pipeline.
Both funds are pivotal in establishing Qatar as a Gulf centre for start ups in a range of fields including technology, gas and petrochemicals, healthcare, environmental engineering and new industrial processes. They mark the beginning of Qatar Capital Partners’ commitment to this area.
Qatar Capital Partners was authorised by the Qatar Financial Centre Regulatory Authority to establish operations in the Qatar Financial Centre on March 29, 2007. Ali Sharif Al Emadi, Acting CEO of Qatar National Bank, said: ‘Science and technology play an important role in the growth of Qatar’s economy and QNB is delighted to continue to play a part in this development through Qatar Capital Partners. We are pleased to be able to contribute our significant financial expertise and specialist knowledge of the region to both the Qatar Science & Technology Park’s venture funds and future investment opportunities.’
Hugh Titcomb, Chief Executive Officer of Ansbacher Group, said:’We are delighted to be working with our parent company QNB and Oxford Capital Partners to create this joint venture which will open up Qatari technology investment to new investors. The Ansbacher group brings considerable investment expertise, experience with the Qatar Financial Centre regulators and fund raising skills to the venture.’
Edward Mott, Founder and chairman of Oxford Capital Partners, said: ‘Oxford Capital Partners has extensive international experience of identifying and investing in new science and technology companies and views the current opportunity in Qatar as significant. All the shareholders of Qatar Capital Partners share the long term vision of the Qatar government and are committed to supporting investment in education, science and applied research in the growing knowledge economy. We are confident that Qatar Capital Partners can generate strong returns for the New Enterprise Fund and Technology Venture Fund whilst providing support and guidance for investee companies as they develop.
