Investment firm Rasmal Ventures from Qatar announces the launch of its inaugural fund, with a capital of $100 million, already securing $30 million in its first round of investments.
Rasmal Ventures Launches Debut $100 Million Fund
Rasmal Ventures, a Doha-based venture capital firm, has announced the launch of its debut fund, the Rasmal Innovation Fund I, which has already surpassed $30 million as its first close. The fund, sector-agnostic but with interests in supply chain logistics, climate-tech, fintech, B2B SaaS, and AI, is intended for investing in startups in Qatar, the Middle East & North Africa (MENA) region, and globally.
The founding team of Rasmal Ventures includes Alexander Wiedmer, Dr. Shaikha Al-Jabir, Angus Paterson, and Soumaya Ben Beya Dridje. Notably, Dr. Shaikha Al-Jabir is also the co-founder of Doha Tech Angels, an angel investment group with investments in healthcare, fitness, edtech, and logistics startups.
Rasmal Ventures will invest across seed to Series B stages, with a particular focus on pre-series A and series A stage startups. The fund's "sweet spot" lies in these early stages of startup development.
While the identities of the investors in Rasmal Innovation Fund I have not been publicly disclosed in the searched sources, it is known that Alexander and Angus previously worked with Iris Capital, the European fund manager that managed STC Ventures. STC Ventures, a notable venture capital firm, was the first institutional investor in Careem, a ride-hailing company, and made an over 100x return on their initial investment in the company.
The exact participation of these investors in Rasmal Innovation Fund I remains undisclosed, and further direct inquiry with Rasmal Ventures or official press releases from the company may be required to obtain this information.
As Rasmal Ventures embarks on this new venture, it brings together a team of experienced investors and a diverse portfolio of interests, poised to support innovative startups on their journey to success.
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