The joint venture will manage the QSTP New Enterprise Fund and the QSTP Technology Venture Fund. These funds will invest in science and technology companies based within QSTP with the potential for significant growth. The New Enterprise Fund moves technology from the lab bench to the marketplace by supplying the seed and early stage founding capital for new businesses. The Technology Venture Fund invests in growth-stage technology companies, helping them to scale-up production and expand their technology pipeline.
Both funds are pivotal in establishing Qatar as a Gulf centre for start ups in a range of fields including technology, gas and petrochemicals, healthcare, environmental engineering and new industrial processes. They mark the beginning of Qatar Capital Partners' commitment to this area.
Qatar Capital Partners was authorised by the Qatar Financial Centre Regulatory Authority to establish operations in the Qatar Financial Centre on March 29, 2007.
Ali Shareef Al Emadi, Acting Chief Executive of Qatar National Bank, comments:
"Science and technology play an important role in the growth of Qatar's economy and QNB is delighted to continue to play a part in this development through Qatar Capital Partners. We are pleased to be able to contribute our significant financial expertise and specialist knowledge of the region to both the Qatar Science & Technology Park's venture funds and future investment opportunities."
QNB already has significant fund raising skills in the Middle East and our understanding of Qatari culture and business practices will be invaluable in the joint venture. With the expertise of the three Qatar Capital Partners shareholders behind them, we are confident that investments in these businesses will provide strong returns to investors," Mr. Al Emadi concluded.
Edward Mott, Founder and chairman of Oxford Capital Partners, added "Oxford Capital Partners has extensive international experience of identifying and investing in new science and technology companies and views the current opportunity in Qatar as significant. All the shareholders of Qatar Capital Partners share the long term vision of the Qatar government and are committed to supporting investment in education, science and applied research in the growing knowledge economy. We are confident that Qatar Capital Partners can generate strong returns for the New Enterprise Fund and Technology Venture Fund whilst providing support and guidance for investee companies as they develop."
Hugh Titcomb, Group Chief Executive of Ansbacher continues "We are delighted to be working with our parent company QNB and Oxford Capital Partners to create this joint venture which will open up Qatari technology investment to new investors. The Ansbacher group brings considerable investment expertise, experience with the Qatar Financial Centre regulators and fund raising skills to the venture."
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