– ADQ and Oman Investment Authority collaborate on the USD 180 million Jasoor Fund to boost the technology sector.

– Fund targets high-growth tech companies in Oman and the MENA region, spanning FinTech, EdTech, HealthTech, cleantech, and more.

– Partnership underscores commitment to economic growth and innovation, fostering global opportunities for emerging ventures.

ADQ and the Oman Investment Authority (OIA) have jointly launched a USD 180 million technology-focused fund called Jasoor Fund, according to media reports.

This initiative, represented by ITHCA Group, stems from a broader framework agreement signed between the two entities in 2022.

The primary objective of the Jasoor Fund is to bolster the digital economy in Oman and the broader MENA region. It aims to achieve this by providing support to high-growth technology companies operating in sectors such as FinTech, EdTech, HealthTech, cleantech, food and agriculture, and logistics. 

The fund will focus on investing in innovative technology companies established in Oman, as well as startups in other countries within the region, at various stages of development with proven business models.

Mohamed Hassan Alsuwaidi, Managing Director and Chief Executive Officer of ADQ, expressed his enthusiasm about the strategic partnership with OIA and emphasized the commitment to making investments that drive economic growth and create lasting value for stakeholders.

Abdulsalam Al Murshidi, President of the Oman Investment Authority, highlighted the significance of establishing a technology-focused fund, stating that it marks a pivotal moment for Oman’s technology sector. 

He emphasized the potential for innovation and growth that this partnership with ADQ brings, setting the stage for digital transformation and technological advancement in both nations.