HomeOmanFuture Fund Oman Will Invest 3% in Startups

Future Fund Oman Will Invest 3% in Startups

Future Fund Oman, a mega fund just launched by Oman Investment Authority (OIA) with a capital of $5.2 billion, will invest 3% out of the total in startups.

Designated for deployment over the next five years at a rate of approximately $1 billion annually, the Fund will allocate 90% of its capital to investing directly in commercially and economically viable new or existing large-scale projects located in Oman. The vehicle will also allocate 7% of its capital towards funding support small and medium-sized enterprises (SMEs), and the remaining 3% is set to be invested in startups.

The Fund will be looking to invest in a variety of sectors, with a special focus on eight critical sectors which are tourism, manufacturing, green energy, fisheries, agriculture, ports and logistics, mining, and information and communication technologies. This focus is intended to rejuvenate these vital sectors and contribute significantly to Oman’s broader economic objectives. In realization of its role to diversify the economy, the Fund will not be looking to invest in any oil and gas and real estate projects.

H.E. Abdulsalam Al Murshidi, OIA’s President, highlighted that the Fund acts as a catalyst for economic diversification and is a reliable partner for investors worldwide. Additionally, it has a strategic focus on empowering the private sector, attracting FDI, empowering SMEs, and fostering venture capital.  

Interested investors can apply directly on https://futurefund.om/futurefund/ for access to financing information.

VCWire

27/03/2024