Qatar National and Oxford Capital launch venture firm(2)

Qatar National Bank has teamed up with Oxford Capital Partners to found Qatar Capital Partners, which will back technology companies in Qatar.

UK venture capital fund Oxford Capital Partners, Qatar National Bank and its subsidiary Ansbacher have formed Qatar Capital Partners, a venture firm that will look to develop technology businesses in Qatar.

The business will act as fund manager for two Qatar Science & Technology Park venture funds, the New Enterprise Fund and the Technology Venture Fund .These funds are designed to invest in science and technology companies based within the Science & Technology Park in Qatar.

The New Enterprise Fund provides seed and early stage founding capital for new businesses, while the Technology Venture Fund invests in growth-stage technology companies. The company will attempt to stimulate Qatar start-ups in fields like technology, gas and petrochemicals, healthcare, environmental engineering and new industrial processes.

Ali Sharif Al Emadi, acting chief executive of Qatar National Bank, said: “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.”

Qatar National Bank has a split ownership structure, with the Government of Qatar holding a 50 percent stake and the private sector holding the other half. The bank is among the largest in the region and the largest in Qatar, owning 45 percent of banking sector assets. Ansbacher is its wholly owned subsidiary.

Oxford Capital Partners has a portfolio of over 25 companies and works in numerous technology sectors including ICT, clean technologies, life and physical sciences.