The map·Bahrain·Funds of funds

Al Waha Fund of Funds

$100M government-backed VC fund-of-funds by Bahrain Development Bank (2018) — the anchor LP behind much of Bahrain's ecosystem.

What
Commits capital to VC funds; founders reach it through the funds it backs.
Who
VC funds with a Bahrain presence investing seed through growth.
Cost
Indirect — invests in funds, not startups
Backs
3 funds on the map — listed below
Status
Closed

Checked · September 2026 · alwahafund.com · How we check ↗

Website ↗On the map →

In detail

Al Waha Fund of Funds is a fund of funds (government-backed) in Bahrain. $100M government-backed VC fund-of-funds by Bahrain Development Bank (2018) — the anchor LP behind much of Bahrain's ecosystem. Its five-year investment period ended April 2023; the fund now manages its existing book through a term running to 2028. Backed funds include BECO Capital, MEVP and 500 Startups; anchor investor in Bahrain venture studio Spring. No successor fund announced.

Amount
$100M fund of funds
Terms
Via underlying VC funds
Eligibility
VC funds with a presence in Bahrain (investing seed, early & growth)
Sectors
Technology, FinTech, Smart Cities
Benefits
  • LP capital for VCs
  • Bahrain ecosystem access
  • Mentorship & knowledge transfer
Status
Legacy — no new commitments

What the source says

“the $100m Al Waha Fund of Funds is supporting Venture Capital funds”

alwahafund.com · seen September 2026

Closing soon on the map

Cultural Development Fund (CDF)

Grant · Saudi Arabia
Up to SAR 500,000 non-repayable per project, capped at 20 projects total.
No equity — grant
29 Sep 2026closes

Finspire

Accelerator · Saudi Arabia
SAR 100,000 development funding, earmarked rather than paid as cash.
Equity via SAFE, capped at 5%
4 Oct 2026closes

QSTP Incubation

Accelerator · Qatar
In-kind support: Doha workspace and housing for a four-week Sprint, talent and investor access.
Equity — 1.5% deferred SAFE-style stake
1 Nov 2026closes

All published deadlines →

More funds of funds in the Gulf

All funds of funds across the six countries →

Funds it backs — named on its own site

BECO Capital

VC fund · UAE
$820M+ AUM across five funds, investing Pre-Seed to pre-IPO; cheque size not disclosed.
Equity
—

MEVP

VC fund · UAE
Equity investment from seed to Series B, via a $150M fund (Fund IV).
Equity
—

Shorooq Partners

VC fund · UAE
Equity investment, stage-agnostic.
Equity
—

Sources

Primary source · alwahafund.com · Checked September 2026