Abu Dhabi-based investment firm ADQ has teamed up with Oman Investment Authority (OIA) to launch a $180 million technology-focused fund called the ‘Jasoor Fund.’ The fund is designed to boost Oman’s digital economy and support tech startups in the wider Middle East.

As part of this initiative, the Jasoor Fund will focus on high-growth technology sectors such as fintech, edtech, healthtech, cleantech, food and agriculture, and logistics. The fund aims to back innovative companies at various stages of growth, particularly those with proven business models.

This launch is a continuation of a partnership between ADQ and OIA established in 2022, when both entities signed a framework agreement to explore investment opportunities. That collaboration identified potential investments worth over $8 billion in Oman’s key economic sectors.

According to Gulf News, Mohamed Hassan Alsuwaidi, Managing Director and CEO of ADQ, emphasized the importance of the fund, saying it showcases ADQ’s commitment to driving investments that benefit the economy and create long-term value for stakeholders. Abdulsalam Al Murshidi, President of OIA, highlighted the fund as a major milestone for Oman’s technology sector.

The Jasoor Fund is expected to strengthen trade ties and promote investments that contribute to the growth of both Oman and the region.