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The Venture Codex

Qatar Investment Authority

Ooredoo Tower (Building 14), Dafna Street, Doha, Al Dafna District, 23224, Qatar

Overview

The QIA was founded by the State of Qatar in 2005 to strengthen the country's economy by diversifying into new asset classes. Building on the heritage of Qatar investments dating back more than three decades, its growing portfolio of long-term strategic investments helps complement the state's wealth in natural resources. Qatar's goal is to become an international center for finance and investment management, a vision shared by its government, people, and institutions. It has a track record of investing in different asset classes, including listed securities, property, alternative assets, and private equity in all the capital markets as well as the newer emerging markets.

Total investments
98
Lead investments
33
Investments · 12mo
28
Active investors
4

Sector focus

  • Asset Management
  • Banking
  • Finance
  • Financial Services
  • Government
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Investment portfolio

  • SambaNova Systems

    Participated · Series F · Jul 2026

    Founded in 2017 and based in Palo Alto, SambaNova designs and sells AI systems such as the SN40L and the next-generation SN50 for high-performance inference and model serving. The SN40L launched in September 2023 and became available on-premises in November 2023; the SN50 was unveiled in February 2026 and is due to begin shipping to customers in the second half of 2026 with SoftBank as its first deployment partner. SambaNova positions itself as a provider of “premium inference,” claiming the ability to fit multi-trillion-parameter models onto a single rack to run them quickly. The company has commercial wins including JPMorgan Chase, Saudi Aramco, Intel, and other Japanese firms. It has a multi-year partnership with Intel that includes co-developing products and go-to-market efforts, and it says current funding will help scale operations and secure its supply chain to meet strong demand.

  • Nearfield Instruments

    Participated · Series D · Jun 2026

    Nearfield Instruments designs next-generation scanning probe microscopy systems and the proprietary QUADRA platform to deliver in-line 3D nanometer-scale metrology and non-destructive, high-throughput atomic force microscopy (AFM) with full 3D imaging capabilities. Its systems target critical measurements including sidewall metrology for high-aspect-ratio trenches, GAA recesses, vias, multi-layer stacks, High-NA EUV, CFET architectures, and hybrid-bonded 3D integration. The company emphasizes automation, fast measurement cycles, and compatibility with fab standards for integration into high-volume manufacturing environments. Nearfield works closely with leading semiconductor manufacturers and research partners and operates R&D and support activities across multiple Asia-Pacific and Western markets. The company employs about 450 people and was founded in 2016 as a spin-off from TNO, headquartered in Rotterdam. Following the $380 million Series D at a $1.6 billion valuation, Nearfield plans to expand production capacity, global customer support, Applications Centers of Excellence, and collaborative R&D with chipmakers.

  • Hyperlight

    Participated · Series C · Jun 2026

    HyperLight develops high-performance integrated photonics based on thin-film lithium niobate (TFLN), commercialized as its TFLN Chiplet™ Platform. The platform targets a range of optical interconnect applications including data center pluggables, coherent datacom and telecom modules, and co-packaged optics, and offers products supporting 200G-per-lane operation with 400G-per-lane solutions now sampling. The company emphasizes ultra-high modulation bandwidth, CMOS-level drive voltage, and ultra-low optical loss to reduce power consumption at higher lane speeds. HyperLight has established a strategic manufacturing partnership with UMC and Wavetek for high-volume foundry production on both 6-inch and 8-inch wafers. With the $80 million Series C, the company plans to expand manufacturing capacity, accelerate customer qualification, scale its platform, and deepen partnerships across foundry, semiconductor, networking, and systems integration domains.

  • ICEYE

    Participated · Series F · Jun 2026

    ICEYE owns and operates a large synthetic aperture radar (SAR) satellite constellation designed to deliver persistent monitoring and change detection anywhere on Earth. Its customers include organisations in defence and intelligence, environmental monitoring, insurance, and emergency management. The company says its capabilities enable fast decision-making and contribute to safety and sovereign intelligence needs. Founded and headquartered in Finland, ICEYE operates globally with over 1,000 employees across multiple countries, including Poland, Spain, the UK, Australia, Japan, the UAE, Greece, and the US. Financially, ICEYE reported scaling revenue, profitability, and cash generation in 2025 and has secured a €300 million 3-year committed revolving credit facility to support growth and provide liquidity; the article also states the company has previously raised over $760 (amount as reported).

  • InnovaFeed

    Participated · Equity · Jun 2026

    Founded in 2016, Innovafeed develops technology to rear and transform the Black Soldier Fly (Hermetia illucens) at industrial scale to produce protein and oil ingredients for animal and plant nutrition. Its proprietary, sensor-driven and partially robotic production process and wet transformation method aim to optimise breeding conditions and product digestibility. The company says its Nesle production unit is fully operational and has produced over 15,000 tons of protein and oil in three years while increasing volumes tenfold and cutting production costs by seven. Innovafeed plans to prioritise commercial deployment of its Hilucia™ product ranges—particularly in functional segments of aquaculture and pet food—while redirecting investment toward industrial equipment, applications development, and operational excellence. As part of this new phase the company is reorganising activities around Nesle, integrating R&D from Gouzeaucourt and planning a workforce reduction tied to that integration. Innovafeed reports strong commercial traction with revenues doubling annually and emphasizes the environmental benefits of its circular industrial model.

Team

  • Mansoor Bin Ebrahim Al-Mahmoud

    CEO

    LinkedIn
  • Ahmed Al-Hammadi

    Head of Active Investments

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  • Kevin Zhu

    Acting Chief of Investment Strategy

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  • Casey Simmons

    Associate Director, Technology, Media and Telecom (TMT)

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