The direct investments supervised by Qatar Development Bank (QDB) in small and medium-sized companies exceeded QR100 million for the first time, bringing the total amount of direct and indirect investments in its portfolio to QR220 million, supporting nearly 100 companies operating and providing highly skilled jobs and innovative services for various entities and companies in Qatar.
QDB Acting CEO Abdulrahman Hesham Al Sowaidi said that the bank will continue to advance the level of progress in the venture capital sector in Qatar, and intensify its efforts in this aspect through investment products to develop and support a larger number of innovative companies in order to enhance their ability to expand regionally and globally.
He added that the bank is aware of the importance of this type of investment for its role in achieving economic growth and providing high-skilled jobs in the private sector that support the goals of Qatar National Vision 2030 in building a knowledge-based economy.
The year 2021 witnessed a growth of 11 percent over the previous year in the capital invested by Qatar Development Bank in small and medium-sized companies where the bank held the 4th edition of the Investment Forum in which it launched the first investment platform of its kind in Qatar, during which 10 start-up companies presented their projects to investors, bringing the total initial deals during the forum to QR8 million.
The bank is also keen on providing information to investors and small and medium-sized companies, as the second edition of the bold investment report was issued in partnership with the MAGNiTT research platform, after the success of the first edition of the report in 2021, which stated that the growth of investment in small and medium-sized companies in 2021 is as much as 92 percent for the year 2020.
QDB also provides support in preparing for the conclusion of investment deals between companies and investors, as it plays a role in opening opportunities for cooperation with investment funds around the world through holding investment sessions, special forums and advisory services after it concluded a number of investment deals to support a number of companies in expanding their business regionally.
As part of its efforts to enhance its integrated project to support the financial services sector, the bank was keen to provide a specialized investment portfolio emanating from the main portfolio to support financial technology projects amounting to QR12 million.
Fintech ranks third among the most invested sectors with a score of 18 percent, after sports technology is ranked first with 24 percent, Internet of Things projects are in second place with 21 percent of the total investments of Qatar Development Bank.