Doha, Qatar, has emerged as a focal point for investment and innovation, and the recent collaboration between the Qatar Investment Authority (QIA) and Activate Capital marks a significant milestone in this journey. On October 15, 2026, it was announced that Activate, a US-based growth equity firm renowned for its investments in intelligent energy and infrastructure technology, has officially joined QIA’s ambitious USD 3 billion Fund of Funds.
Activate Capital’s Investment Vision
Activate specializes in funding companies from Series B to pre-IPO stages, targeting various vital sectors. These include energy, power, transportation—both terrestrial and space—digital industries, supply chain resilience, and climate adaptation. With a commitment to driving innovation in these sectors, Activate aims to capitalize on opportunities within the Global South. This strategic alignment with QIA allows the firm to expand its reach and influence, particularly in industries undergoing significant digitalization and decarbonization.
Strengthening Qatar’s Investment Landscape
Through this collaboration, QIA is enabling Activate to enhance its investment strategy in a region ripe for growth. To this end, Activate will establish its first international office in Doha, staffed with experienced investment professionals, including a partner focused specifically on Qatar’s market. This move signals Activate’s intent to engage deeply with the local economy while building a diverse and skilled team by hiring both local Qatari and international talent. The goal is to solidify Qatar’s position as a leading platform for investment and innovation, particularly within the Global South.
QIA’s Commitment to Global Venture Capital
QIA’s Fund of Funds, which was initially unveiled in February 2024, aims to attract top-tier international venture capital firms to Qatar. This initiative is designed to foster knowledge-sharing within the global VC ecosystem while accelerating the development of startups both in Qatar and the surrounding region. Dr. Mohsin Pirzada, QIA’s Head of Funds, articulated the purpose behind the Fund of Funds, stating that it is oriented towards creating connections between Qatar and the international VC community.
A Partnership for Sustainable Innovation
The partnership between QIA and Activate Capital represents a mutual commitment to leveraging technology for transformative infrastructure improvements globally. Anup Jacob, Co-Founder of Activate, expressed enthusiasm over welcoming QIA as a Limited Partner and a member of the Limited Partners Advisory Committee. He emphasized that both organizations share a belief in the necessity of technology-driven solutions to drive infrastructure evolution. This partnership not only aligns with Activate’s portfolio and investment strategy but also integrates seamlessly with Qatar’s broader innovation ecosystem.
As the newest addition to QIA’s Fund of Funds, Activate Capital underscores the program’s ongoing success and the growing interest from international investors in the region. Activate’s focus on critical sectors like climate, energy, and industrial infrastructure adds valuable expertise to the initiative and aligns with Qatar’s National Vision 2030. This highlights the essential role that venture capital plays in funding sustainable and innovative solutions in the region.
Overall, this cooperation illustrates Qatar’s growing prominence as a hub for innovation and investment in the Global South, further solidifying its reputation on the world stage.