UAE Oman ADQ, QIA launch $180m tech focused fund #UAE#OMA#ADQ#QIA [Video]

Abu Dhabi-based investment and holding company ADQ has launched the $180m technology-focused Jasoor Fund, in collaboration with the Oman Investment Authority (OIA) represented by ITHCA Group.
This initiative is part of a broader framework agreement signed between the two entities in 2022.
The fund’s primary objective is to boost the digital economy in Oman and the wider MENA region by supporting high-growth technology companies.
These companies operating in sectors such as fintech, edtech, healthtech, cleantech, food and agriculture, and logistics will be ideal candidates for the fund.
Jasoor Fund will focus on innovative technology companies established in Oman and startups in other regional countries.
Investments will target high-growth technology companies at various stages of development with established business models.
ADQ, QIA to support digital transformation
Mohamed Hassan Alsuwaidi, managing director and CEO of ADQ, emphasised the significance of the partnership, stating, “Building on ADQ’s strategic partnership with OIA established in 2022, the launch of Jasoor Fund reinforces our commitment to make investments that unlock the potential of key sectors of the economy, while creating lasting value for stakeholders.”
Abdulsalam Al Murshidi, president of the Oman Investment Authority, highlighted the transformative impact of the fund on Oman’s technology sector.
“Through this strategic partnership and the significant commitment by ADQ which underpins it, we are setting the stage for a new era of innovation and growth that will propel both nations into a future powered by digital transformation and technological advancement,” he said.
UAE-Oman ties get stronger
In other news, UAE and Oman companies signed multi-sectoral deals during Sultan Haitham bin Tariq’s state visit to the UAE.
“The UAE and Oman have strong historical relations founded on shared values, goals and principles,” Mohamed Hassan Al Suwaidi, the UAE Minister of Investment said during the visit, adding that the investment agreements represent a major milestone in the countries’ bilateral ties.
The deals, which span renewable energy, railway connectivity and investments in digital infrastructure and technology, were dominated by a Dhs117bn industrial and energy “megaproject” that encompasses renewable energy initiatives including solar and wind energy projects and green metals production.
ADQ was also in the news for its recent acquisition of a sizeable stake in Plenary.
The holding company will acquire a 49 per cent stake which includes all shares previously held by the Canadian pension fund