Shorooq Partners Launches $200M Late-Stage Growth Fund: A New Era for MENA Startups and Pre-IPO Success.

Shorooq Partners launches a $200M Qatalyst Series fund backed by QIA to solve the pre-IPO funding gap for MENA startups.

Discover how Shorooq Partners’ new $200M Qatalyst Series fund, backed by QIA, is bridging the pre-IPO gap for MENA startups. Learn about investment criteria, founders Mahmoud Adi and Shane Shin, and how to secure late-stage funding.

The Middle East and North Africa (MENA) tech ecosystem has officially reached a tipping point. On February 2, 2026, during the Web Summit Qatar, Abu Dhabi-based investment powerhouse Shorooq Partners announced the launch of a $200 million late-stage growth fund.

Part of the firm’s Qatalyst Series, this new vehicle is designed to solve one of the most persistent “missing links” in regional finance: the lack of consistent, institutional capital for companies preparing for an Initial Public Offering (IPO).

Also Read: Pre-IPO Power: How Alternative Investment Funds (AIFs) are Quietly Fueling the SME Revolution in India

The $200M Qatalyst Series: Bridging the “Growth Gap”

For years, MENA startups excelled at raising Seed and Series A capital, only to face a “funding desert” when attempting to scale toward a public listing. The Qatalyst Series changes the narrative by providing the long-duration capital required to transition from a private “scale-up” to a public market leader.

Fund Size: $200 Million
Focus: Late-stage growth and Pre-IPO companies.
Primary Goal: To institutionalize the region’s exit pipeline, making public-market readiness a repeatable process rather than a lucky break.

Key Backers: The Power of Sovereign Wealth

The fund is anchored by the Qatar Investment Authority (QIA), marking a historic collaboration between Abu Dhabi-based Shorooq and Qatari sovereign wealth. This partnership is part of Qatar’s larger $3 billion venture fund-of-funds program aimed at establishing Doha as a global venture hub.

Other backers include a prestigious roster of sovereign and institutional investors from across the GCC and Asia, cementing Shorooq’s position as a “full-stack” investment platform.

Meet the Visionaries: The Founders of Shorooq Partners

Founded in 2017, Shorooq Partners was built on the philosophy of being “company builders” first and investors second.

Mahmoud Adi (Founding Partner): A former veteran of Mubadala Investment Company, Adi brings a decade of experience in landmark global transactions (including GlobalFoundries and AMD). He is also the co-founder of Pure Harvest Smart Farms, one of the region’s most successful agritech ventures.
Shane Shin (Founding Partner): Known for his “boys, be ambitious” mantra, Shin has been instrumental in expanding Shorooq’s footprint into Saudi Arabia, Egypt, and Pakistan. Together, they have grown the firm’s Assets Under Management (AUM) to over $1 billion.

Investment Strategy: What Shorooq Looks For

If you are a founder looking to tap into this $200M fund, you need more than just a good idea. Shorooq’s criteria for the Qatalyst Series are rigorous and focused on sustainability and scale.

1. Proven Fundamentals & Unit Economics

The era of “growth at all costs” is over. Shorooq targets companies with:

Sustainable Unit Economics: A clear path to profitability (if not already profitable).
Proven Scale: Significant market share in their respective niches.
Strong Governance: Startups must demonstrate “public-market readiness” in their financial reporting and leadership structure.

2. Strategic Sectors

While tech-agnostic to an extent, the fund prioritizes:

Fintech & Fintech Infrastructure (e.g., NymCard, Lean Technologies)
Software & AI (including a dedicated $100M AI fund with Presight)
Regulated Environments: Mission-critical businesses serving government or highly regulated sectors.
Logistics & Agritech: Industries with long-term structural demand.

3. Clear Exit Pathways

The Qatalyst Series is specifically looking for “national champions” companies capable of listing on regional exchanges like the ADX (Abu Dhabi), Tadawul (Saudi Arabia), or international markets.

Also Read: Family Office Investments in India: The New Powerhouse Fueling Startups, Scaleups, and Growth-Stage Enterprises in 2026.

Past History and Track Record

Shorooq Partners isn’t just a new player; they are the architects of some of the region’s biggest success stories. Their portfolio includes 80+ companies with a gross equity value exceeding $5 billion.

Notable Portfolio Company	Industry	Significance
Tamara	Fintech	Saudi Arabia’s first BNPL unicorn.
Pure Harvest	Agritech	Pioneer in sustainable desert farming.
TruKKer	Logistics	Digital freight giant spanning the GCC.
Sarwa	WealthTech	Leading robo-advisory platform in the UAE.

Why This Matters for Startups Seeking Funding

If you are a founder in the MENA region, Shorooq Partners now offers a full-lifecycle partnership.

Early Stage: Their Seed-focused vehicles (like the Bedaya Fund) provide initial checks of $1M–$8M.
Growth Stage: Their credit funds offer non-dilutive scaling capital.
Pre-IPO: The new $200M Qatalyst fund provides the final push toward a liquidity event.

Expert Tip for Founders: Shorooq values “founder-investor alignment.” Before reaching out, ensure your data room is “IPO-lite” ready transparent, audited, and demonstrating clear regional leadership potential.