ADQ and OIA Launch US$180 Million Tech Fund

ADQ, a leading Abu Dhabi investment and holding company, announced the launch of the Jasoor Fund, a US$180 million technology-focused fund, in partnership with the Oman Investment Authority (OIA) represented by ITHCA Group.

The Jasoor Fund aims to fuel the digital economy in Oman and the wider Middle East and North Africa (MENA) region. It will target high-growth technology companies across various sectors.

The fund will prioritize innovative technology companies established in Oman, alongside promising startups across the MENA region. It will focus on companies at various development stages with established business models to maximize growth potential.

Quotes from Key Players

Mohamed Hassan Alsuwaidi, ADQ CEO: “The Jasoor Fund strengthens our partnership with OIA and commitment to unlocking potential in key economic sectors. Together, we’ll support trade and investments driving both economies’ growth.”

Abdulsalam Al Murshidi, OIA President: “This partnership with ADQ marks a turning point for Oman’s tech sector. The Jasoor Fund paves the way for a new era of innovation and growth, propelling both nations towards a future driven by digital transformation.”

Said Abdullah Al Mandhari, ITHCA Group CEO: “The Jasoor Fund aligns with our strategy of funding cutting-edge tech projects. It will also provide opportunities for Omani youth to develop their ventures and expand globally.”

Building on Strategic Partnership

The Jasoor Fund is a testament to the ongoing collaboration between ADQ and OIA. In 2022, both entities identified over $8 billion in potential investment opportunities across key sectors within the Omani economy. This partnership aims to foster deeper economic cooperation and trade ties between the UAE and Oman.

Bashar AlRosan (pictured) is Chief Legal and Compliance Officer at ADQ and Secretary to the Board of Directors and its Executive Committee.