Oman sovereign wealth fund’s ITHCA Group has signed a strategic investment deal with Saudi Vision Venture Capital to boost support for start-ups in the sultanate.

The new agreement is expected to enable Omani entrepreneurs to access the Saudi investment ecosystem and benefit from Saudi Vision Venture Capital’s expertise and networks in the region.

Established by the Oman Investment Authority, ITHCA is actively investing in start-ups. The ITHCA Fund, which has executed 36 investments, focuses on entrepreneurs in the technology sector, including artificial intelligence, financial technology, software, digital services.

The Saudi Vision Venture Capital has financed early-stage tech businesses across the Middle East and North Africa (MENA) region.

(Writing by Cleofe Maceda ; editing by Seban Scaria) seban.scaria@lseg.com