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Oman Technology Fund (OTF) operates as a government-backed venture capital firm dedicated to fostering technological innovation within Oman and the broader MENA region. The fund primarily invests in and supports tech-driven startups, aiming to transform nascent ideas into commercially viable enterprises. Its strategic approach includes various programs designed to nurture entrepreneurial talent and facilitate the growth of emerging technology companies.
Established as a strategic initiative by the Omani government, the fund was conceived with the insight of positioning the Sultanate as a leading hub for innovation and entrepreneurship. This foundational vision aimed to cultivate a dynamic ecosystem, attracting both domestic and international tech ventures and venture capital to the region. The fund’s inception reflects a broader national strategy to diversify the economy and build a robust knowledge-based sector.
The fund's primary beneficiaries are technology entrepreneurs and startups seeking capital, mentorship, and acceleration to scale their ventures. OTF’s overarching mission is to elevate Oman as a preferred destination for emerging tech companies, thereby contributing to the region's economic development and technological advancement. It envisions a future where Oman is synonymous with a thriving, innovative tech landscape, driven by successful startups and a vibrant investment community.
Key people at Oman Technology Fund.
Oman Technology Fund has 6 tracked investments across 6 companies. The latest tracked deal is $11.0M Series A in ELEVATUS in September 2022.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Sep 1, 2022 | ELEVATUS | $11.0M Series A | Global Ventures | Plug & Play Ventures, Plus Venture Capital |
| Jun 14, 2022 | Dastgyr Technologies | $15.0M Series A | — | Astir Ventures, Cedar Mundi Ventures, Century OAK Capital, Chandaria Capital, DEG, GoingVC, HI2 Global, K3 Diversity Ventures, Khwarizmi Ventures, Reflect Ventures, Khairil Abdullah, Zinal Growth |
| Jul 27, 2020 | Cubex Global | $1.0M Seed | Oman Technology Fund | — |
| Feb 4, 2020 | Homzmart | $1.3M Seed | — | Equitrust, MSA Capital |
| Nov 26, 2019 | TruKKer | $23.0M Series A | — | Endeavor Catalyst, Iliad Partners, International Finance Corporation, Middle East Venture Partners, Riyad Taqnia Fund, Shorooq Partners, STV |
| Jun 20, 2019 | Swvl | $42.0M Other Equity | — | Michael Lahyani, Arzan Venture Capital, Autotech Ventures, BECO Capital, Blustone, Endeavor Catalyst, MSA Capital, Sawari Ventures |
Key people at Oman Technology Fund.