To bolster the digital economy across the Middle East and North Africa (MENA) region, Abu Dhabi’s investment firm ADQ and Oman’s sovereign wealth fund, the Oman Investment Authority (OIA) — represented by ITHCA Group — have joined forces to launch the Jasoor Fund.

This $180 million initiative aims to fuel the growth of high-potential technology companies. The fund will target innovative firms established in Oman and promising startups from other countries.

Focus areas for investment include fintech, edtech, healthtech, cleantech, food and agriculture, and logistics. Jasoor Fund will prioritize companies at various stages of development, provided they have established business models demonstrating strong growth potential.

“Building on ADQ’s strategic partnership with OIA established in 2022,” said Mohamed Hassan Alsuwaidi, ADQ’s managing director and CEO. “The launch of Jasoor Fund reinforces our commitment to making investments that unlock the potential of key sectors of the economy while creating lasting value for stakeholders.”

Abdulsalam Al Murshidi, president of the Oman Investment Authority, echoed the sentiment, emphasizing the transformative potential of the fund for Oman’s tech sector.

“We are setting the stage for a new era of innovation and growth that will propel both nations into a future powered by digital transformation and technological advancement,” he said.

This collaboration follows multi-sectoral deals signed between UAE and Omani companies during Sultan Haitham bin Tariq’s recent visit to the UAE. 

These agreements, spanning renewable energy, railway networks, digital infrastructure, and technology investments, highlight the deepening economic partnership between the two nations.

ADQ also recently acquired a significant stake in Plenary, a global infrastructure investor.