Deputy Oil Minister Amir Hossein Zamaninia has been named as Iran’s caretaker OPEC Governor, replacing Hossein Kazempour Ardebili who died earlier this month, a state-affiliated news website said on Saturday.
A search for a permanent governor is underway, the YJC site said.
Ardebili, who served as Iran’s representative to the Organization of the Petroleum Exporting Countries, died on May 16 of a brain haemorrhage two weeks after falling into a coma.
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Deputy oil minister named as Iran’s acting OPEC governor
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Deputy oil minister named as Iran’s acting OPEC governor
- He replaces Hossein Kazempour Ardebili who died earlier this month
Qatar wealth fund plans to invest in 5 new VC funds
DOHA: Qatar Investment Authority plans to invest in five new venture capital funds as part of an expanded $3 billion venture capital program, the sovereign wealth fund said on Monday.
The new funds, called Greycroft, Ion Pacific, Liberty City Ventures, Shorooq and Speedinvest, are set to open offices in Doha in an effort to develop Qatar as a venture capital hub, it said in a statement.
The “Fund of Funds” initiative was unveiled in 2024 to attract venture capital firms to Qatar, build a robust environment for entrepreneurs and help diversify its economy away from fossil fuel revenues, as the country follows the path of other wealthy Gulf peers.
Qatar’s prime minister on Sunday announced an expansion of the fund to reach up to $3 billion.
“This year, we move from momentum to scale,” Sheikh Mohammed bin Abdulrahman Al-Thani said as he opened the Qatar edition of the Web Summit technology conference.
The expansion would potentially target investments besides series A and B funding rounds.
“We are now expanding the scope to do later rounds, so that may open up conversations with a different set of managers,” said Mohsin Pirzada, the head of funds at QIA, in an interview with Reuters.
“We will continue to be quite flexible and support earlier stages as well, but there are sufficient pools of capital within the country to go after those types of opportunities,” he said, citing credit lending facilities.
The QIA has assets under management worth $580 billion, according to Global SWF, a sovereign wealth fund tracker, and late last year it launched its own AI-focused company Qai as it bets on the booming sector to drive economic diversification.
As part of its efforts, the country has launched a pilot computing credit program that provides free computing for startups that are based in Doha, which could be applicable to managers that are part of the Fund of Funds scheme.
The pilot program is going to be “a big differentiator in terms of what our program is offering vis-a-vis our peers in the region,” Pirzada said.
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