Business
QDB issues third annual report on 'Qatar Venture Investment Report'
The report discusses the advantages and future investment paths for SMEs in Qatar
February 27, 2023 | 09:31 AM
Qatar Development Bank (QDB) issued the third edition of the "Qatar Venture Investment Report 2022" in cooperation with the MAGNiTT venture investment research platform.The report complements QDB's endeavors, which are held in collaboration with local and international key stakeholders, to support the national entrepreneurship ecosystem by providing the most specialized reports that showcase the SMEs' success journey. Also, it showcases QDB's support for SMEs via its investment arm and various programs.The report discusses the advantages and future investment paths for SMEs in Qatar.Acting Chief Executive Officer, Qatar Development Bank, Abdulrahman Hesham Al Suwaidi said, "We are pleased to release the third edition of the Qatar Venture Investment report highlighting our successful journey in supporting SMEs and the entrepreneurship ecosystem, given its vital contribution to the country's economic development. As a development financial institution, Qatar Development Bank, through its investment arm, has endeavored to create new prospects for SMEs to ensure that entrepreneurs excel in various industries."CEO of MAGNiTT, Philip Bahoshy, said that despite the difficult global economic conditions in 2022, the startup ecosystem in Qatar maintained its attractiveness for investments, collecting QR 97 million in 45 deals in 2022, a record year for financing and investment, with an annual increase of 35 percent. He added that compared to neighboring countries, the State of Qatar witnessed an increase in financing in the second half of 2022, by 68 percent of the capital spent in the whole year.The VC ecosystem in Qatar continued to strengthen its ground in 2022, reporting record highs in funding and deals closed. Marking its third consecutive year of growth, Qatar raised QR97 million recording an increase of 35 percent on a year-on-year basis. Qatar ranked fourth in terms of deals registered in the MENA region, with 45 transactions reported in 2022, up by an annual 18 percent.A record number of 17 investors participated in Qatar's VC ecosystem in 2022, 70 percent more than in 2021, with a 35 percent participation rate of investors from institutions and commercial companies.The transport and logistics sector accounted for the largest share of the total value of investments by 45 percent by attracting a QR 44 million deal in series b in a Qatari company.The venture capital invested and spent in SMEs by QDB since the establishment of the bank's investment fund amounted to QR 74 million, a growth of 13 percent compared to 2021, while the value of direct investments and investment commitments amounted to QR90 million. Also, QDB offers training programs, which qualified more than 60 investors in investor qualification programs to become accredited investors.
February 27, 2023 | 09:31 AM