- Strategic Investment: Qatar’s Rasmal Ventures announces its investment in Hong Kong– and Qatar-based NEXX, an AI-powered logistics technology company, during the 10th Belt and Road Summit in Hong Kong.
- Innovation Hub: This marks Rasmal Ventures’ first direct commitment in Hong Kong, reinforcing Qatar’s rise as a regional hub for advanced technologies and a bridge between Asia and the Middle East.
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Regional Expansion: NEXX appoints Ibrahim Al-Darbasti as Co-Founder of NEXX Middle East to combine global expertise with deep local knowledge.
Qatar-based Rasmal Ventures, a venture capital fund backed by the Qatar Investment Authority (QIA), has announced its investment in NEXX, an artificial intelligence-driven logistics technology company with dual headquarters in Hong Kong and Qatar. The announcement was made during the 10th Belt and Road Summit in Hong Kong.
A Strategic Milestone for Qatar
This investment represents a strategic milestone for Rasmal Ventures, the first homegrown VC fund in Qatar, underscoring its commitment to bringing global innovation into the Qatari market. It also marks the fund’s first direct engagement with a Hong Kong-based startup, highlighting Qatar’s emergence as a regional hub for advanced technologies and fast-growing ventures, as well as its role as a bridge for collaboration between Asia and the Middle East.
Strengthening Qatar’s Innovation Ecosystem
Since its establishment in 2023 under the umbrella of the Qatar Financial Centre (QFC), Rasmal Ventures has quickly become a cornerstone of Qatar’s innovation ecosystem. The firm launched the Rasmal Innovation Fund I with strategic backing from QIA’s $1 billion fund of funds.
Rasmal has supported high-growth technology projects across borders and strengthened its position through high-profile local partnerships with Sidra Medicine and the Qatar Development Bank (QDB), reflecting Qatar’s ambition to position itself as a global hub for innovation and cross-border collaboration.
Signing Ceremony and Regional Growth
The signing ceremony was attended by:
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Somaya Bin Bih Drijaa, Partner at Rasmal Ventures,
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Hoi Ka Oscar, CEO of NEXX,
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H.E. Sheikha Noura Khalifa Al Thani, Consul General of Qatar in Hong Kong,
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Nicholas Ho, Commissioner for Belt and Road, HKSAR Government.
As part of its regional expansion, NEXX appointed Ibrahim Al-Darbasti, Executive VP of Maritime Services at Milaha, as Co-Founder of NEXX Middle East, reinforcing the company’s vision of combining global expertise with deep local market insights.
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