Venture Capitalists in Qatar and UAE and the Growing Trade Relationship Between UAE and China

Venture Capitalists in Qatar Discuss the Impact of AI on the Market

Venture capitalists in Qatar gathered at the Qatar Economic Forum in Doha to discuss the state of the venture capital market and how it is being reshaped by artificial intelligence (AI). Noor Sweid, Co-Founder and Managing Partner of Global Ventures, highlighted that despite the changes in the market, founders continue to face similar challenges as before. She emphasized that startups in the region are adept at dealing with challenges and tend to demonstrate good business fundamentals due to their experience in a cash-constrained funding environment.

Sweid also pointed out a trend among Global Ventures’ portfolio companies towards integrating AI tools. She mentioned that 40% of the startups backed by the Dubai VC firm could now be considered AI firms. Vinnie Lauria, Founder of Golden Gate Ventures, echoed Sweid’s sentiments and mentioned that the Singaporean fund is focusing on B2B AI investments. He highlighted the strengthening corridor between Southeast Asia and the Gulf, with portfolio companies finding opportunities in cities like Abu Dhabi and Riyadh.

Rick Gerson, Co-Founder and Chairman of U.S. asset manager Alpha Wave Global, discussed the success of AI in the region, citing the $1.5 billion investment by Microsoft in Abu Dhabi AI firm G42 as a significant milestone. He also mentioned the firm’s co-management of a $10 billion VC fund with Abu Dhabi’s Chimera Capital and the untapped opportunities in the Middle East for their portfolio.

The panel also touched on the topic of investing in sports, with Gerry Cardinale, Founder of RedBird Capital Partners, highlighting the increasing interest of institutional investors in sports teams. Cardinale, who owns Italy’s AC Milan, mentioned that professional teams are valuable pieces of intellectual property and are attracting creative investments for monetization.

In other news from the region, Qatar’s Energy Minister Saad Al-Kaabi expressed optimism about the demand for liquefied natural gas (LNG) and announced plans for the expansion of LNG facilities in the country. The UAE saw increased trade with China, with Chinese investments in the region growing by 16% last year. Saudi Arabia’s Public Investment Fund reduced its U.S. equities portfolio, while Mubadala completed its acquisition of Fortress Investment Group.

Overall, the discussions at the Qatar Economic Forum shed light on the evolving landscape of venture capital in the region, the potential of AI in reshaping the market, and the growing opportunities for investments in various sectors. The engagement of key players in the industry reflects a positive outlook for the future of venture capital in the Middle East.