Abu Dhabi, Apr. 23 (BNA): ADQ, an Abu Dhabi-based investment and holding company, today announced the launch of a US$180 million technology-focused fund, Jasoor Fund (the Fund), with Oman Investment Authority (OIA) represented by ITHCA Group. This commitment is part of a broader framework agreement signed between both parties in 2022.
According to Emirates News Agwency (WAM), the Fund aims to bolster the digital economy in the Sultanate and the wider MENA region by supporting high-growth technology companies in sectors such as FinTech, EdTech, HealthTech, cleantech, food and agriculture, and logistics. Its core focus will be on innovative technology companies established in the Sultanate, in addition to technology startups in other countries in the region. It will undertake investments high-growth technology companies at various stages of development that have established business models.
In 2022, ADQ and OIA identified investment opportunities worth over $8 billion in key sectors of Oman’s economy. The partnership aims to contribute to increased economic cooperation and trade between both nations.
WHQ
#ADQ #Oman #Investment #Authority #launch #million #technologyfocused #fund #bolster #digital #economy
Source link