Shorooq unveils a $200M Qatalyst Fund backed by QIA to support MENA tech firms preparing for IPO-scale growth.
Shorooq has moved decisively into late-stage investing with the launch of Qatalyst Fund I, a $200 million vehicle designed to support technology companies in the Middle East and North Africa that are approaching public-market readiness.
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Announced on the sidelines of Web Summit Qatar, the fund is anchored by the Qatar Investment Authority (QIA) alongside a group of institutional investors, signalling a growing appetite for scaled regional technology assets beyond early-stage venture capital.
Unlike traditional venture funds that prioritise rapid experimentation and accelerated exits, Qatalyst Fund I is structured around long-duration capital. Its focus is on companies that have already achieved product-market fit and meaningful scale, and are now navigating the more complex demands of governance, operational resilience, and IPO preparedness.
In practical terms, these are businesses that have moved past headline growth and are grappling with the realities of public-market expectations—financial discipline, regulatory compliance, and organisational depth. In MENA, where late-stage funding has historically been scarce, this gap has often slowed the transition from regional success to global relevance.
Shorooq said the fund will target technology-driven sectors where scale, execution, and durable leadership matter, rather than growth-at-all-costs models. The strategy reflects a broader shift among regional investors toward sustainability and capital efficiency, particularly as global public markets reset expectations for tech valuations.
The launch also marks an evolution in Shorooq’s platform. Having built a strong presence in early and growth-stage investing, the firm is positioning itself as a full-stack investment partner, capable of supporting founders from inception through to the pre-IPO phase. For founders, this promises continuity of capital and alignment, reducing the friction that often comes with fragmented late-stage fundraising.
Mahmoud Adi, Founding Partner at Shorooq, described the fund as a natural extension of the firm’s long-term strategy to back founders building category-defining businesses. The participation of QIA adds institutional credibility and underscores Qatar’s ambition to play a larger role in shaping the region’s technology capital markets.
Why Shorooq Matters to MENA
For years, MENA’s tech ecosystem has been strong at starting companies, but weaker at scaling them into public-market contenders. The absence of patient late-stage capital has forced many high-growth startups to either exit early or look abroad for funding.
Qatalyst Fund I addresses a structural gap: helping regional tech champions stay independent longer, professional operations, and prepare for IPOs—whether locally or internationally. If executed well, funds like this could accelerate the emergence of homegrown public tech companies, deepen regional capital markets, and reduce reliance on early exits as the default success path.
For founders, it signals a maturing ecosystem—one where ambition doesn’t have to stop at Series C.
