Abu Dhabi sovereign wealth fund ADQ has launched a $180 million technology-focused fund with the Oman Investment Authority (OIA), represented by Oman venture capital firm ITHCA Group.

Jasoor Fund is part of a broader framework agreement signed in 2022 to bolster the digital economy in Oman and the wider MENA region, a statement from ADQ said. 

It will support high-growth tech companies in fintech, edtech, healthtech, cleantech, food and agriculture and logistics, with a core focus on innovative technology established in Oman.

The fund will invest in tech startups as well as those at a later stage with established business models, the statement said. 

The announcement follows a state visit yesterday by Sultan and Prime Minister of Oman Haitham bin Tariq.

(Reporting by Imogen Lillywhite; editing by Seban Scaria)