The Oman Investment Authority (OIA) has announced an investment through its venture capital arm, Innovation Development Oman (IDO), in a new US$100 million fund launched by Singapore-based Golden Gate Ventures (GGV).

This fund aims to support startups in the Middle East, particularly focusing on innovation and entrepreneurship.

As part of this collaboration, GGV has begun its regional investments by funding Bayanat, an Omani data analytics company that operates on a Software-as-a-Service (SaaS) model.

Ibrahim Said Al Eisri, Chief Investment Officer for Private Markets at OIA, said that this initiative is part of broader efforts to diversify investments and support Oman Vision 2040.

Founded in 2011, GGV has invested in over 100 companies globally, including nine unicorns.

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