Muscat – The Oman Investment Authority (OIA) has announced a strategic partnership with Golden Gate Ventures, a prominent Singapore-based venture capital firm, through its technology arm, Innovation Development Oman. This collaboration is aimed at strengthening Oman’s startup ecosystem and attracting foreign investment to the country’s technology sector.
Golden Gate Ventures recently launched a new US$100 million fund headquartered in Doha, marking its first international venture capital initiative focused on the MENA region. The fund targets early-stage startups and will be backed by OIA, which has joined as a limited partner.
This strategic partnership is expected to empower Omani startups, attract foreign direct investment (FDI), facilitate knowledge transfer, and create job opportunities for local youth, contributing to the ongoing development of Oman’s economy.
The fund’s first investment in the region has already been made in Bayanat Technology, an Omani company specializing in data analysis solutions. This reflects the firm’s commitment to supporting high-potential startups across the region.
Ibrahim al Eisri, Head of Private Markets Investments at OIA, highlighted the importance of this partnership within the authority’s broader investment strategy. “This partnership aligns with our goal of diversifying investments and focusing on sectors that will drive Oman’s economic growth. It is a step forward in supporting innovation and fostering technological advancements in the country,” Eisri said.
Michael Lints, Partner for MENA at Golden Gate Ventures, called the partnership with OIA a “milestone” in the firm’s expansion into the Middle East. “Our collaboration with OIA is a key step in shaping the future of innovation and entrepreneurship in the region, while creating sustainable value for investors,” Lints said.
In addition, Lints revealed plans to open a new office in Oman. The office will focus on investing in local startups, attracting talent, and supporting early-stage financing initiatives. This move is expected to enhance the flow of foreign investment into Oman and strengthen ties with the investment ecosystem in Southeast Asia.
Since its founding in 2011, Golden Gate Ventures has invested in over 100 companies across Asia, the US, and Europe, including nine companies with billion-dollar valuations, further solidifying its role as a leading venture capital firm in the global market.
