OMAN:  ADQ AND OIA ANNOUNCE CREATION OF $180 MILLION FUND

On April 23, 2024, ADQ, one of the largest investment and holding company in the United Arab Emirates, and the Oman Investment Authority (OIA) announced the creation of a new $180 million fund specifically aimed at promoting the technology ecosystem in the Middle East and Northern African region.

The Jasoor Fund will support technologies companies operating in the finance, education, health, environmental, agriculture, food and logistics sectors, with a particular emphasis on startups based in Oman.

The establishment of the Jasoor Fund is part of a larger framework agreement signed by ADQ and the OIA in 2022, during which both entities identified $8 billion worth of investment prospects in Oman’s critical sectors. TMT Law is well connected in the Middle East angel investment and venture capital ecosystem.  We are available to provide legal support to tech startups who wish to raise funds from investors in the region. Our services cover all aspects of funding deals including due diligence, term sheets, structuring, warranties and disclosure and IP issues.