Abu Dhabi’s ADQ, in collaboration with the Oman Investment Authority (OIA) through the ITHCA Group, has introduced a $180 million tech-focused fund aimed at fostering the digital economy in Oman and the broader region. Known as the ‘Jasoor Fund’, this initiative is part of a comprehensive agreement established between ADQ and OIA in 2022 to explore investment opportunities within Oman.
The fund will concentrate on supporting high-growth technology enterprises across various sectors including fintech, edtech, healthtech, cleantech, food and agriculture, and logistics. It seeks to nurture innovative technology companies based in Oman as well as startups from other Middle Eastern countries, targeting firms at different stages of development with established business models.
Mohamed Hassan Alsuwaidi, Managing Director and CEO of ADQ, emphasized the fund’s role in unlocking economic potential and generating enduring value for stakeholders. “The launch of Jasoor Fund reinforces our commitment to strategic investments that drive sectoral growth and promote sustainable economic development,” he stated.
Abdulsalam Al Murshidi, President of the Oman Investment Authority, hailed the establishment of the technology-focused fund as transformative for Oman’s technology landscape. He highlighted its potential to catalyze advancements in Oman’s tech sector through targeted investments and strategic partnerships.
In 2022, ADQ and OIA identified investment opportunities exceeding $8 billion across vital sectors of Oman’s economy, thereby laying the groundwork for further collaborative ventures aimed at economic diversification and growth.
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