Muscat – Oman Investment Authority (OIA) has announced a strategic partnership with Singapore-based venture capital firm Golden Gate Ventures through its technology arm Innovation Development Oman. The collaboration aims to strengthen the sultanate’s startup ecosystem and attract foreign investment into Oman’s technology sector.

Golden Gate Ventures recently expanded its presence in the Middle East and North Africa region with a new US$100mn fund headquartered in Doha. OIA has joined as a limited partner in the fund, which is focused on supporting early-stage startups across the region. This marks Golden Gate Ventures’ first international venture capital initiative targeting the MENA market.

The partnership is expected to empower Omani startups, attract foreign direct investment, facilitate knowledge transfer and create job opportunities for local youth.

The fund has already made its first investment in the region by backing Bayanat Technology, an Omani company specialising in data analysis solutions.

Ibrahim al Eisri, Head of Private Markets Investments at OIA, said the partnership is part of the authority’s strategy to diversify its investments while focusing on sectors that can boost Oman’s economic development. “This partnership reflects our commitment to redirecting investments towards local sectors, supporting economic growth and encouraging technological innovation,” Eisri said.

Michael Lints, Partner for MENA at Golden Gate Ventures, described the partnership with OIA as a “milestone” in the firm’s expansion efforts. “Our collaboration with OIA will help shape the future of innovation and entrepreneurship in the region while building sustainable value for investors.”

Lints also revealed plans to open an office in the sultanate, which will focus on investing in Omani startups, attracting local talent and supporting early-stage financing initiatives. “This will strengthen ties with the investment ecosystem in Southeast Asia and accelerate the flow of foreign investment into Oman’s market,” Lints added.

Founded in 2011, Golden Gate Ventures has invested in over 100 companies across Asia, the US and Europe, including nine with billion-dollar valuations.