Doha, October 15 (QNA) - Qatar Investment Authority (QIA) announced that Activate Capital - a US-based firm specializing in growth equity investments within the energy technology and smart infrastructure sectors, has joined QIA's USD 3 billion Fund of Funds program.

Activate Capital invests in companies across various stages of their growth, with a focus on the energy and power sectors, ground and space-based transportation and mobility technologies, digital industry, supply chain resilience, and climate change adaptation.

Through its Fund of Funds program, QIA's commitment will support Activate Capital in advancing its investment strategy across the Global South, with a focus on sectors undergoing a fundamental transition toward digitalization and decarbonization.

As part of this partnership, Activate Capital intends to open its first international office in Doha, which will house a group of senior investment professionals, including a partner dedicated to the Qatari market. The firm also aims to attract both local and international talent to build a diverse, highly skilled team, thereby strengthening Qatar's position as a hub for investment and innovation across the Global South.

Launched by QIA in February 2024, the Fund of Funds program aims to attract leading global venture capital firms to the State of Qatar, strengthen ties and knowledge exchange with the global venture capital ecosystem, and accelerate the development of startups in Qatar and the region.

In this context, Head of Funds Investment Department at QIA, Dr. Mohsin Pirzada, said that the Authority launched the Fund of Funds program to strengthen ties between the State of Qatar and the global venture capital ecosystem."

In turn, Co-Founder of Activate Capital, Anup Jacob, expressed his delight to welcome QIA as a limited partner and a member of the company's Limited Partners Advisory Committee.

He noted that his company shares QIA's view that technology-driven solutions would play a pivotal role in reshaping infrastructure systems globally, adding that they look forward to building a long-term partnership with Qatar Investment Authority.

Activate is the latest venture capital firm to join QIA's Fund of Funds, demonstrating the program's continued momentum and the sustained interest from leading international investors in Qatar and the broader region.

Activate's focus on climate, energy, and industrial infrastructure also expands the sectorial expertise within the program, directly supporting Qatar's National Vision 2030 and highlighting the critical role venture capital plays in funding sustainable innovation. (QNA)