Exclusive Report by 36Kr Global | Rasmal Ventures, supported by Qatar's QIA, invests in Hong Kong-based company NEXX

NEXX, an AI-driven logistics technology company, recently announced that it has received strategic investment from Qatari venture capital firm Rasmal Ventures. Headquartered in Qatar, this fund is an important venture capital fund supported by the Qatar Investment Authority (QIA). The two parties jointly announced this cooperation during the 10th Belt and Road Summit held in Hong Kong from September 10th to 11th.

For Rasmal Ventures, the first Qatari-headquartered venture capital fund, this investment marks a strategic milestone and reflects its mission to introduce transformative global innovations to Qatar. This cooperation represents Rasmal Ventures' first investment in a Hong Kong-based tech startup, highlighting Qatar's rise as a hub for cutting-edge technology and high-growth enterprises. It also aligns with Rasmal Ventures' broader vision of positioning Qatar as a platform for in-depth cooperation between Asia and the Middle East, while rooting itself in the local innovation ecosystem and connecting with global opportunities.

Since its establishment in the Qatar Financial Centre (QFC) in 2023, Rasmal Ventures has quickly become an important pillar of Qatar's innovation economy. By launching the Rasmal Innovation Fund I and receiving strategic support from a $1 billion Fund of Funds (FOF) from the Qatar Investment Authority (QIA), Rasmal Ventures has made significant progress in cross-border investments in high-growth technology companies. Its collaborations with local key institutions such as Sidra Medicine and the Qatar Development Bank (QDB) further confirm the fund's commitment to rooting in Qatar and empowering the technology ecosystem, echoing the country's grand goal of promoting a global hub for innovation and collaboration.

NEXX, which has received investment from the Qatari fund, also announced the appointment of its Middle East executives. Mr. Ibrahim Al-Derbasti, the Executive Vice President of the Offshore and Maritime Business at Qatari shipping group Milaha, has been appointed as the co-founder of NEXX Middle East. This move not only demonstrates NEXX's commitment to building a leadership team with international experience but also emphasizes its strategic layout of deepening local professional capabilities in regional markets.

Mr. Ibrahim Al-Derbasti, Co-founder of NEXX Middle East

The signing ceremony was jointly attended by Ms. Soumaya Ben Beya Dridje, a partner at Rasmal Ventures, and Mr. Xu Jia, the CEO of NEXX. It was also honored to have the presence of Her Excellency Sheikha Noora Khalifa Al-Thani, the Consul General of Qatar in Hong Kong, and Mr. He Lizhi, the Belt and Road Commissioner of the Hong Kong Special Administrative Region Government, as witnesses.

Soumaya Ben Beya Dridje stated, "We firmly believe that the cross-regional linkage between top Chinese tech entrepreneurs and the Gulf Cooperation Council (GCC) region will unlock significant growth potential and value for both sides. Rasmal is well-positioned to build this bridge, and NEXX's innovative model is an excellent embodiment of this vision, which has impressed us deeply."

Mr. Xu Jia, the CEO of NEXX, added, "This cooperation demonstrates our firm commitment to building a world-class enterprise and effectively connecting China's technological innovation with opportunities in the Middle East market."

In the front row are Ms. Soumaya Ben Beya Dridje, a partner at Rasmal Ventures, and Mr. Xu Jia, the CEO of NEXX; in the back row, from left to right, are Mr. Huang Guobin, the Chairman of NEXX, Her Excellency Sheikha Noora Khalifa Al-Thani, the Consul General of Qatar in Hong Kong, Mr. He Lizhi, the Belt and Road Commissioner of the Hong Kong Special Administrative Region Government, Mr. Chen Jianzhong, the Vice Chairman of NEXX, and Professor Yu Bei, the Chief Scientist of NEXX.

About NEXX

NEXX is a logistics AI company dedicated to connecting the markets between China and the Middle East and North Africa (MENA) region. Leveraging its Agentic AI platform and advanced logistics technology, NEXX aims to enhance the efficiency of cross-border supply chains, optimize warehousing operations across the entire MENA region, and create a more intelligent international logistics system. NEXX's institutional shareholders include Cheung Kong Holdings.

About Rasmal Ventures

Rasmal Ventures is the first independently operated venture capital fund in Qatar, with its business covering the Middle East and North Africa (MENA) region. The company focuses on investing in high-growth potential tech startups and supporting top entrepreneurs, including international enterprises actively expanding into the Middle East and North Africa markets.

Rasmal Ventures primarily invests in startups in the Series A and B financing stages, and also selectively invests in Pre-A round and later-stage projects. Although not limited to specific industries, the fund has extensive experience in areas such as medical technology, fintech, B2B SaaS, supply chain logistics, and artificial intelligence (AI). Rasmal Ventures always embraces the rapid pace of technological evolution and is committed to learning and exploring emerging fields with visionary entrepreneurs. For more information about Rasmal Ventures, please click "here" to visit the official website.

Image | Provided by the enterprise

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