MUSCAT: The Oman Investment Authority (OIA) has announced its investment in Golden Gate Ventures, a Singapore-based investment fund focused on startups in the Middle East. The fund, with a capital of USD 100 million, aligns with the Omani government’s vision to foster entrepreneurship, stimulate innovation, and attract foreign investments. By partnering with this fund, OIA aims to strengthen Oman’s position as a regional hub for technological and entrepreneurial growth.
Through this investment, OIA seeks to empower local startups, enhance the transfer of knowledge to the Omani market, and create employment opportunities for young Omanis. It also aims to establish research and development centers, further supporting the country’s digital economy. One of the fund’s initial investments in the region has been directed towards the Omani company Bayanat, which specializes in data analytics solutions through the Software as a Service (SaaS) model. This aligns with Oman Vision 2040, which prioritizes digital transformation and the support of local entrepreneurs.
Ibrahim bin Said Al Eisri, Head of Private Markets Investments at OIA, stated that the partnership is part of OIA’s strategy to diversify its international investments while ensuring that these investments benefit local industries. He emphasized that this collaboration will drive economic development, encourage technological advancements, and strengthen Oman’s global investment footprint. He further highlighted that the fund’s focus on technology, artificial intelligence, and renewable energy aligns with Oman’s broader objectives of sustainable economic growth.
Michael Lints, Partner at Golden Gate Ventures for the Middle East and North Africa, emphasized that this partnership marks a significant step in shaping the future of innovation and entrepreneurship in the region. He revealed that Golden Gate Ventures intends to establish an office in Oman to facilitate direct investments in local startups, attract skilled professionals, and support seed funding initiatives. Founded in 2011, Golden Gate Ventures has invested in over 100 companies across Asia, the USA, and Europe, including nine unicorns. This investment is also expected to diversify OIA’s Generations Portfolio, ensuring financial sustainability while fostering a vibrant startup ecosystem in Oman.
