Abu Dhabi-based alternative investment manager Shorooq Partners has launched a $200 million late-stage growth fund that will back technology companies in the Gulf and beyond as they prepare for public listings.
The fund, which was unveiled at Web Summit Qatar in Doha, will operate under the firm’s “Qatalyst Series” and will target companies with proven scale, strong fundamentals, and clear pathways to exit, with a particular focus on IPOs.
Shorooq said the fund is backed by Qatar Investment Authority alongside other sovereign and institutional investors from the Gulf and Asia.
The launch comes as Gulf markets enter a new technology phase marked by deep pools of sovereign liquidity and a growing cohort of mature private companies.
Shorooq said the fund will provide long-duration capital and hands-on support to help regional scale-ups transition into public-market leaders.
“This fund represents a natural evolution of our platform and how we partner with founders across their full growth journey,” said Mahmoud Adi, Shorooq’s founding partner.
The fund will invest across sectors where innovation, scale, and long-term structural demand intersect, targeting businesses capable of achieving regional and global leadership, Shorooq said.
The launch also strengthens Shorooq’s evolution into a multi-asset investment platform, it added.
Founded in 2017, the firm invests across venture capital, credit, private equity and real assets, focusing on technology-enabled businesses across MENA and Asia.
In 2024, the firm announced the first close of its $100-million private credit fund, which was launched in collaboration with IMM Investment Global. It also closed its second early-stage Middle East and North Africa and Pakistan venture fund at $150 million in 2023.
“With our venture capital vehicles, credit strategies, and now a dedicated late-stage growth fund, we are uniquely positioned to support companies across the entire venture capital stack, from early conviction to late-stage scale and public market readiness,” Adi said.
As a venture investor, Shorooq Partners targets seed to Series A startups, writing cheque sizes of $1-8 million across the Gulf Corporation Council (GCC), Egypt, and Pakistan.
It targets sectors such as fintech, software as a service (SaaS), platform verticals, and digital assets, such as Web 3.0. The firm prefers to be the first cheque in these deals and takes a hands-on approach to partner with its founders.
