Qatar Development Bank launches co-investment product for startups
The co-investment product involves $1 million per deal from the bank and capital infusion from local and global funds.
Qatar Development Bank has launched a co-investment product for startups, which involves an investment of $1 million per deal by the bank and investments from local and global funds.
The bank's acting CEO, Abdulrahman Hesham Al-Sowaidi, announced this at the bank’s fifth Investment Forum. He said the programme would help complete investment rounds by reducing the risks carried by individual and corporate investors, said a report by Fast Company Middle East.
Qatar Development Bank has also upgraded its existing SME equity fund Istithmar to offer funding of $495,000 instead of the earlier $27,500. The fund allocates 20% to small enterprises and 80% to growing medium-sized enterprises.
Al-Sowaidi said the upgrades on Qatar Development Bank's initiatives are part of the bank's strategy to support Qatar's business ecosystem and make the country ideal for entrepreneurship.
Qatar Development Bank recently partnered with Qatar Stock Exchange to launch a financing programme for SMEs to help them cover the cost to list on the exchange's Venture Market and meet regulatory and financial requirements.
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Edited by Swetha Kannan