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Qatar unveils $2 billion push for startups as Web Summit opens

The funds – Greycroft, Ion Pacific, Liberty City Ventures, Shorooq and Speedinvest – will open offices and help Doha develop as a technology hub

Ramsey Cardy/Sportsfile for Web Summit Qatar via Getty Images

Web Summit founder Paddy Cosgrave and Qatar Government Communications Office Director Sheikh Jassim bin Mansour Al-Thani

Qatar committed $2 billion to support startups as its banner tech gathering opened to sold-out crowds, drawing more than 30,000 people.

The Qatar Investment Authority is planning to invest in five new venture capital funds, expanding an earlier...