Eduardo Saverin’s B Capital is among six venture capital firms planning to establish offices in Doha as Qatar ramps up its efforts to attract global financial firms and catch up with regional competitors including the UAE, according to a report by Pensions & Investments Online.
The Qatar Investment Authority (QIA) has committed to investing in B Capital, a venture capital firm co-founded by Facebook’s Eduardo Saverin and former Bain Capital investor Raj Ganguly. With over $7bn in assets under management, B Capital has backed companies including machine-learning startup DataRobot, cryptocurrency brokerage FalconX, and customer analytics firm Pendo.
QIA’s investment in B Capital is part of its $1bn fund-of-funds program, launched last year to develop Qatar’s venture capital ecosystem and support local startups. As part of the initiative, QIA will also invest in Deerfield Management, a healthcare-focused investment firm managing approximately $15bn in assets. Details on the size of the investment remain undisclosed.
The fund has already backed four other firms, including London-based Utopia Capital Management, with all of them set to establish offices or regional headquarters in Qatar.
Qatar’s move comes as its neighbours — the UAE and Saudi Arabia — continue leveraging sovereign investments to attract global firms to their financial hubs. In recent years, Abu Dhabi and Dubai have emerged as key locations for hedge funds, while Saudi Arabia has lured Wall Street firms by introducing policies requiring regional headquarters for certain government contracts.
Beyond Qatar, Kuwait is also making moves to attract foreign investment, with BlackRock reportedly exploring plans to open an office in the country.
With assets of $510bn, QIA is expected to grow further as Qatar expands its gas production. Under the leadership of new CEO Mohammed Al Sowaidi, the fund is expected to deepen its US investments — a shift that aligns with global geopolitical changes as Qatar navigates its economic strategy under the next US administration.
