US-based Activate Capital joins Qatar Investment Authority's Fund of Funds

Doha, Qatar - Qatar Investment Authority (QIA) and Activate Capital, a US-based growth equity firm specializing in intelligent energy and infrastructure technology, have announced on October 15, 2026 that Activate Capital has joined QIA's USD 3 billion Fund of Funds.

Activate Capital targets investments in companies from Series B through pre-IPO stages, focusing on sectors such as energy and power, transportation and mobility, digital industry, supply chain resilience, and climate adaptation. QIA's commitment through its Fund of Funds will enable Activate Capital to expand its investment strategy in the Global South, with a strategic emphasis on industries undergoing significant digitalization and decarbonization.

As part of the partnership, Activate Capital will establish its first international office in Doha, staffed by senior investment professionals, including a Qatar-focused partner. Additionally, Activate Capital plans to hire local Qatari and international talent to strengthen its diverse and skilled workforce, further solidifying Qatar's position as a platform for investment and innovation in the Global South.

QIA's Fund of Funds, initially announced in February 2024, aims to attract leading international venture capital firms to Qatar, foster knowledge-sharing with the global VC ecosystem, and accelerate the development of startups in Qatar and the broader region. Dr. Mohsin Pirzada, Head of Funds at QIA, stated that Activate Capital brings valuable sector expertise that supports QIA's ambition to transform Qatar into a leading hub for innovation, entrepreneurship, and long-term investment.

Anup Jacob, Co-Founder of Activate Capital, expressed delight at joining QIA as a Limited Partner and member of its Limited Partners Advisory Committee. He emphasized their shared belief in the transformative potential of technology-enabled solutions in reshaping global infrastructure systems and their eagerness to build a long-term partnership that connects their portfolio, investment strategy, and future Doha office with Qatar's growing innovation ecosystem.