Rasmal Ventures, a leading Qatar-based venture capital fund backed by the Qatar Investment Authority (QIA), has revealed its investment in NEXX, an AI-driven logistics technology company with dual headquarters in Hong Kong and Qatar, during the 10th Belt & Road Summit held in Hong Kong from 10–11 September.
The investment marks a strategic milestone for Rasmal Ventures, the first Qatar-headquartered VC fund, and reflects its mission to bring transformative global innovation into Qatar. As Rasmal Venture’s first commitment to a Hong Kong tech startup, the partnership highlights Qatar’s emergence as a hub for cutting-edge technologies and high-growth ventures.
It also aligns with Rasmal Venture’s broader ambition to position Qatar as a platform for meaningful collaboration between Asia and the Middle East; anchoring innovation within the country while connecting it to global opportunities.
Since its establishment in 2023 under the Qatar Financial Centre (QFC), Rasmal Ventures has rapidly become a key pillar of Qatar’s innovation economy. With the launch of its Rasmal Innovation Fund I and strategic backing from QIA’s $1 Billion Fund of Funds, Rasmal Ventures has made notable strides in supporting high-growth technology ventures across borders.
Local partnerships of the company with Sidra Medicine and Qatar Development Bank (QDB) underscore its deep-rooted commitment to empowering Qatar’s tech ecosystem, reflecting the nation’s broader ambition to emerge as a hub for global innovation and collaboration.
The signing ceremony was attended by Soumaya Ben Beya Dridje, Partner at Rasmal Ventures and Mr. Hui Ka Oscar, CEO of NEXX Group; and the event was honored by the presence of HE Sheikha Noora Khalifa Al-Thani, Consul General of the State of Qatar to Hong Kong as well as Nicholas Ho, Commissioner of the Belt and Road Office of the Hong Kong SAR Government.
Soumaya Ben Beya Dridje, Partner at Rasmal Ventures, stated that, “We believe the cross-regional connection between China’s leading tech entrepreneurs and the GCC can unlock tremendous growth and value on both sides, and we are positioned to enable the building of this bridge. NEXX stood out as an impressive example that embodies this vision.”
Hui Ka Oscar, CEO of NEXX Group, emphasized that these developments reflect the company’s dedication to creating a world-class organization capable of effectively connecting Chinese technological innovation with opportunities in the Middle Eastern market.
