OIA Invests in Golden Gate Ventures to Empower Omani Startups and Boost Innovation

Oman, 25 February, 2025 :  The Oman Investment Authority (OIA), through its venture capital arm Innovation Development Oman (IDO), has invested in a new MENA fund launched by Singapore's Golden Gate Ventures (GGV). The $100 million fund aims to support startups in the Middle East, empowering Omani startups, attracting foreign investments, and transferring expertise to the local market.

This partnership is aligned with Oman’s Vision 2040, focusing on innovation, technology, and job creation for Omani youth. GGV’s initial investment targets Bayanat, an Omani company specializing in data analytics delivered via a SaaS model.

Ibrahim Said Al Eisri, OIA's Chief Investment Officer for Private Markets, emphasized the strategic goal of diversifying investments and enhancing Oman's role in international projects. The initiative will also support sectors like renewable energy, AI, and medical technology, creating business opportunities and local employment.

GGV plans to establish an office in Oman, strengthening ties with the local investment ecosystem and fostering sustainable ventures. Founded in 2011, GGV has invested in over 100 companies, including nine unicorns, and is expanding its presence in the MENA region.