Finance

Qatar attracts VC fund managers to Doha with its $1 billion ‘fund of funds’

Published

4 months ago

February 27, 2025

Business Finance News

The skyline of Doha, Qatar.

Tim De Waele | Corbis | Getty Images

The Qatar Investment Authority is leveraging its over-$500 billion in assets to attract venture capital firms to the hydrocarbon-rich state.

The sovereign wealth fund’s $1-billion fund of funds program — which invests in both international and regional VC funds — is designed to bolster investments in areas such as technology and health care, as Qatar looks to diversify away from its dominant oil and gas industry.

Now, it’s accepted its first group of venture capital fund managers.

B Capital, a tech-focused firm led by Facebook co-founder Eduardo Saverin, is among the group of VCs set to launch in Doha, opening its first Middle East office in the Qatari capital. It joins Rasmal Ventures, Utopia Capital Management and Builders VC, which have also joined the program.

Raj Ganguly, co-CEO of B Capital, hailed the Gulf state’s approach to artificial intelligence, and its support for the sector, as of particular interest.

“With all the sandboxes that have been created here in the GCC (Gulf Cooperation Council) to trial new types of AI, we think it’s an incredibly exciting time,” Ganguly told CNBC at Web Summit Qatar in Doha on Monday. “We believe innovation can come from anywhere. We want to back founders from the GCC who have a global mindset.”

B Capital, which focuses on enterprise, fintech, health care and climate investments, has over $7 billion in assets under management and says it targets seed to late-stage growth technology investments.

B Capital establishes Middle East office in Doha, Qatar

Mohsin Pirzada, head of funds at QIA – a huge sovereign wealth fund with stakes in prize assets ranging from French football team Paris Saint-Germain to London’s Heathrow Airport — told CNBC that the program has a dual investment mandate.

“Firstly, we seek strong commercial returns and secondly, we seek for positive impact across the VC ecosystem in Qatar,” he said.

He added that the fund of funds was looking for VCs looking to deepen their roots in the country. It aims to “have a beneficial impact on the local economy, to boost deal flow in the market and to support the development of a thriving ecosystem underpinned by a strong private sector,” he added.

A test for Doha

The move comes as Doha faces a particular challenge in attracting financial services firms. In addition to boasting a young, digital-savvy population, many countries in the Middle East also offer incentives to lure storied financial services firms.

Riyadh, for example, has launched a program requiring any company that seeks government contracts to move its regional headquarters to Saudi Arabia, offering corporate tax incentives. The Kingdom has seen several Wall Street firms move to the Saudi capital as a result, including Morgan Stanley, Goldman Sachs, Lazard and BlackRock.

The UAE is also targeting global firms, with billionaire Ray Dalio, hedge fund Brevan Howard, asset manager PGIM and private equity giant General Atlantic all setting up offices in capital Abu Dhabi.

“The key word here is ‘compliment’ — this is a relatively small region, so when one country wins, we all win. If we are all attracting businesses, innovators and helping companies to scale, we will all benefit,” the QIA’s Pirzada told CNBC.

Finance

Amazon is selling an $800 portable power station for $550, and shoppers 'love the mobile design and durability'

Published

10 hours ago

June 14, 2025

Business Finance News

TheStreet aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission.

Camping is a fun summer activity. What’s not fun is having no access to electricity. You can’t charge your phone, watch TV, or make your morning cup of coffee. Thankfully, portable power stations allow you to do all that and more. It’s literally like bringing along a giant battery for all of your electronics. Portable power stations are also good to have around your home in case of power outages.

There’s just the problem of price. Portable power stations are notoriously expensive, especially ones that have a larger energy storage capacity. The good news is that we were able to find a solid deal on a 1,056-watt-hour (or 1 kilowatt-hour) power station. This $800 Anker Solix C1000 Portable Power Station is $550 at Amazon for a limited time. At 31% off, you’re saving $250.

Anker Solix C1000 Portable Power Station, $550 (was $800) at Amazon

The Anker Solix C1000 features a power output of 1,800 watts, making it strong enough to handle multiple electronics and small appliances at once. It has 11total power ports. You get two USB-A and USB-C ports, a car socket, and six AC outlets. Additionally, it also functions as a night light and has a handle for easy carrying. It weighs about 28 pounds.

Now let’s talk about charging. There are two ways you can charge the Anker Solix C1000. The first way is just by plugging it into a standard AC wall outlet. Or if you have the portable solar panels (sold separately), you simply connect the wires and place the panels in the sun. When plugged into an AC outlet, your power station can be fully charged in about an hour. If you charge up with solar, it’ll likely take around two hours. The digital display on the front of the power station shows you the battery and charging status.

Shoppers have found multiple uses for this portable power station. “We bought it mainly for short power outages and to run our refrigerator, but it will have many other uses for sure,” one shopper said. “Just this past week, I had to do some repairs to our floating dock, and there is no extension cord long enough to reach, so I brought this Anker Solix C1000 and it powered our two saws and drills without any issue at all. It’s very cool and has lots of different outlets. Very impressive unit!”

Others say they get daily use out of it. “I love it. I use it every day. I am traveling and camping everywhere,” one shopper shared. “I use it to power a car mobile refrigerator, a little portable air conditioner, and of course, my iPhone and other electronics, and sometimes an electric stove. It can take on all tasks with no problem. I love the mobile design and durability.”

You don’t need to be ‘roughing it’ the next time you go camping. Consider grabbing the Anker Solix C1000 Portable Power Station to keep all your devices charged and bring along a few essentials for the kitchen or living room. You’ll feel like you never left home.

Finance

Amazon is selling a 'high-quality' $525 Citizen Eco-Drive watch for $260, and buyers love its 'useful functions'

Published

14 hours ago

June 13, 2025

Business Finance News

TheStreet aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission.

Time is the most valuable thing any of us has. Therefore, why not keep track of it in the most accurate and stylish way possible, relishing every second? Amazon can help you do that with its incredible selection of high-end watches. One of them, from Citizen, is currently available for half off, and we think it ticks all the boxes.

The Citizen Calandrier Eco-Drive Watch is on sale for $260 right now, which is 50% off the regular price of $525. Not only does this watch give you the time, but it even tells you the day and the date.

Citizen Calandrier Eco-Drive Watch, $260 (was $625) at Amazon

While a watch that tells the time is useful, one that does that and lets you know exactly what day and date it is can keep you on schedule better than you might imagine. In addition to the time, day, and date functions, this watch has a 24-hour tracker and world time function, so you can know what time it is anywhere in the world.

With a stainless steel case and bracelet, the timepiece oozes elegance and durability. Its blue dial is highly legible and attractive, and is sure to get you plenty of compliments. It also has a scratch-resistant mineral crystal and 100 meters of water resistance. The Japan-made quartz movement inside operates off of solar energy, provided by the Eco-Drive technology within.

Amazon customers raved about this watch. One called it “my favorite watch,” adding, “I fell in love with how it looked…It feels and looks like a very high-quality watch. All the functions work perfectly and are not hard to read.”

Another touted the “beautiful blue dial,” and said, “I love good-looking watches…but if the design can incorporate useful functions as well, it’s a winner for me. And this watch does all of that.”

The Citizen Calandrier Eco-Drive Watch will let you know exactly when you are, and it can do so in style. It can also do so for only $260 at the moment, so why not take a chance? We would never waste your time if it weren’t worth it.