Oman Investment Authority joins $100 million Singapore fund to boost startups

Muscat: The partnership aims to empower Omani start-ups, attract foreign direct investment (FDI), create job opportunities for local youth, and foster research and development (R&D) centers. This move reinforces Oman’s position as a regional hub for technology-driven investment and innovation.

As part of its regional investment strategy, Golden Gate Ventures has already backed Omani data analytics company, Bayanat, which provides Software as a Service (SaaS) solutions. This investment reflects OIA’s commitment to the “Oman 2040” vision, which emphasizes digital transformation and support for entrepreneurs.

Ibrahim bin Saeed Al-Aisri, Head of Private Markets Investments at the Oman Investment Authority, said that this partnership comes within the framework of the Authority’s efforts to diversify its investments and enhance the Omani dimension in its foreign projects, represented by redirecting these investments towards local sectors; thus contributing to driving the wheel of economic development and encouraging technical innovation.
He added that this step supports the Authority’s national agenda by investing in future sectors such as renewable energy, technology, artificial intelligence and medical technology, in addition to contributing to creating job opportunities for young people and sustainable business opportunities for local institutions.

Michael Lentz, Partner at Golden Gate Ventures for the Middle East and North Africa, hailed the collaboration with OIA as a key milestone in the firm’s expansion strategy.

He pointed out that within the framework of this partnership, the Singaporean fund “Golden Gate Ventures” intends to open an office in the Sultanate of Oman. This, according to him, will contribute to enhancing its investments in Omani start-ups, attracting local talent, and supporting their initial and foundational financing programs, in addition to enhancing communication with the investment system in Southeast Asia, which will accelerate the flow of foreign investment to the local market, especially since the fund is one of the most prominent investment funds specialized in supporting start-ups.

Golden Gate Ventures, established in 2011, has invested in over 100 companies across Asia, the U.S., and Europe, including nine billion-dollar enterprises. OIA’s investment aligns with its Generations Portfolio strategy, which manages Oman’s foreign investments across diverse sectors to drive economic growth and ensure long-term financial sustainability.