UAE-based investment firm Shorooq has launched a $200 million late-stage growth fund under its Qatalyst Series, as it moves to address a structural gap in the Gulf’s capital markets around pre-IPO and late-stage funding.
The fund is backed by Qatar Investment Authority alongside other sovereign and institutional investors from the GCC and Asia, with the launch announced at Web Summit Qatar.
Founded in 2017, Shorooq has evolved into a multi-strategy investment platform spanning venture capital, credit, private equity, and real assets. The new Qatalyst fund targets late-stage and pre-IPO companies with proven scale, strong unit economics, and clear exit pathways, particularly through public listings.
The strategy is designed to institutionalise what Shorooq sees as a missing layer in the regional ecosystem: consistent, long-duration capital to help companies transition from late private stages to public markets.
“This fund represents a natural evolution of our platform and how we partner with founders across their full growth journey,” said Mahmoud Adi, founding partner at Shorooq. “With venture, credit, and now a dedicated late-stage growth fund, we can support companies from early conviction through to public market readiness. QIA’s backing reinforces our focus on building enduring, category-defining businesses.”
According to Shorooq, the fund will focus on sectors where scale, innovation, and structural demand intersect, including fintech infrastructure, software, AI, and businesses operating in regulated or mission-critical environments across the Middle East and North Africa.
Adi told Semafor that over the next two to three years, the strongest opportunities would be among companies that have already proven their economics but require patient, structured capital to professionalise and scale ahead of IPOs.
The launch of the Qatalyst Series follows Shorooq’s broader push to build a full-stack investment platform capable of backing founders across market cycles.
In September 2025, Shorooq partnered with Abu Dhabi-listed big data and AI company Presight to launch Presight–Shorooq Fund I, a $100 million global AI innovation fund. That vehicle targets AI and analytics startups across sectors including smart cities, energy, fintech, Industry 4.0, and deep tech, while providing portfolio companies with access to Presight’s cloud, GPU infrastructure, and enterprise distribution channels.
Shorooq has been one of the region’s most active early-stage investors, backing companies such as Pure Harvest, Nymcard, Tamara, Sarwa, Lean Technologies, TruKKer, Mozn, and Lendo.
