In recent years, the Sultanate of Oman's startup ecosystem has grown significantly, creating an atmosphere conducive to the growth of innovative startups. This Middle Eastern country, nestled in the Arabian Peninsula, is undergoing a transformative shift toward fostering innovation and entrepreneurship, driven by a combination of factors including favorable government policies, increased access to technology and resources, and a significant influx of funding from venture capitalists. In this article, we have compiled a comprehensive list of top VC Funds and Angel Investors in Oman that can provide you with the capital and support to help you succeed!
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Why Should You Raise Funds in Oman?
1. Growing Venture Capital Market and Investment Trends
Raising funding in Oman allows businesses to access a diverse pool of investment capital from a variety of sources, including government-backed funds, angel investors, venture capital companies, and private equity investors. Oman's venture capital sector is expanding rapidly, with a predicted total capital raised of US$182.2 million in 2024. The country's venture capital sector is dominated by early-stage businesses, with a forecast market volume of $92.2 million by 2024. The growing number of local and foreign venture capital companies establishing offices in Oman reflects the country's favorable investment environment and emphasis on early-stage entrepreneurs. Furthermore, the favorable economic environment and government backing for entrepreneurship have led to the increase in interest, making Oman an enticing place for startups seeking funding.
2. Supportive Regulatory Framework
Oman's favorable regulatory freamework promotes corporate growth and investment. The government has adopted measures to reduce bureaucratic procedures, make company registration easier, and improve investor protection. The low interest rates and a favorable regulatory framework have made it simpler for enterprises to get money and raise financing. The implementation of regulations such as the Foreign Capital Investment Law and the Commercial Companies Law has increased the ease of conducting business in Oman. Furthermore, the construction of specialized economic zones, such as the Knowledge Oasis Muscat and the Al Mazunah Free Zone, offers entrepreneurs the necessary infrastructure and incentives to thrive. These factors have led to the tremendous expansion and development of Oman's capital raising industry.
3. Market Opportunities and Strategic Location
Oman's strategic location at the crossroads of key global trade routes, notably its access to the GCC market, offers appealing potential for businesses. The GCC market, which consists of affluent nations with a strong demand for new products and services, presents a profitable opportunity for entrepreneurs to broaden their reach and capitalize on the region's rising customer base. Oman's stable political climate, along with its membership in the GCC, a region noted for its strong infrastructure and huge investment potential, adds to its allure as a launchpad for entrepreneurs pursuing regional and worldwide expansion.
Venture Capitalist Funds in Oman
The venture capital firms below are actively looking for investments in promising companies throughout various stages and sectors. The stages stated do not limit the possibility of getting funding if your company is at any stage other than what is listed.
Year of Inception: 2018
Stage: Pre Seed, Seed, Series A
Focus: Deeptech, AI, Web3
Notable Portfolio :eMushrif, Carzaty, Voyager, OpenESG, SpotLight
Phaze Ventures is Oman's leading private venture capital firm, having established a unique niche by investing in early-stage startups specialized in Deeptech, AI, and Web3, enabling the growth of new and innovative technologies in the area. The firm's investment strategy include assisting businesses that attempt to transform sectors that operate in analog, data-less settings through digitization, automation, and data-driven decision-making tools. The firm's strategic partnerships and accelerator program have further strengthened its position at the forefront of the global technology race in Oman, underscoring its commitment to supporting high-potential founders and fostering rapid growth and innovation in line with the Oman Vision 2040 national strategy.
Year of Inception: 2016
Stage: Pre Seed, Seed, Series A
Focus: Technology
Notable Portfolio: Swvl, Hedvig, Galactech, Shavers
Oman Technology Fund (OTF), founded as an accelerator and incubator program, is a pillar of technological innovation in Oman, investing in innovative businesses from the Middle East and North Africa. With a total committed capital of up to $150 million, OTF focuses on investing in startups that leverage technology to address global concerns such as water shortages, industrial applications, AI, big data, VR, and AR. The fund's mission is to facilitate the successful growth of startup firms by providing crucial support in the form of a three-month training program, mentorship, and money. By supporting and enabling creative firms, OTF continues to play a crucial role in presenting Oman as a preferred location for national and international entrepreneurs, pushing technical improvements throughout the MENA region.
Year of Inception: 2022
Stage: Seed, Series A
Focus: FinTech, CleanTech and EV, AgriTech, HealthTech and Wellness, DeepTech, D2C and Retail, SaaS
Notable Portfolio: MoEving, Rupeek, Taurean Surgical
BeyondTeq Venture Capital is a forward-thinking VC firm that focuses on finding and developing visionary entrepreneurs and disruptive technologies in their early phases. The fund aims to empower the next generation of engineering and technology professionals by investing in businesses that are category inventors or provide unique solutions with a big Total Addressable Market (TAM) or Serviceable Addressable Market (SAM), managed by resilient and inventive teams. The firm's investment methods are focused on developing product-market fit, capital-efficient business models, early traction with customer validation, and indications of scalability. BeyondTeq's devoted staff, with over a half-century of combined experience in operating, investing, and entrepreneurship, is dedicated to helping entrepreneurs build a brighter tomorrow, one business at a time.
Year of Inception: 2020
Stage: Seed, Series A
Focus: IT/ICT, Health, Lifestyle
Notable Portfolio: Smartzi, PresentID, Signagium, Eternal Frame, Vipitals
Pioneer Investors is a major venture capital fund that focuses on early-stage firms. Pioneer Investors primarily invests in Canada and Oman, with an investment strategy centered on discovering and supporting creative and motivated organizations across a wide range of industries, with a focus on IT/ICT, health, lifestyle, and other promising areas. Furthermore, the fund's portfolio review emphasizes its active engagement in a number of early-stage technology businesses, demonstrating its role in encouraging technical innovation and entrepreneurial spirit in Oman and beyond. With its borderless approach and global perspective, Pioneer Investors has established itself as a vital player in increasing collaboration opportunities for startups, businesses, and investors.
Year of Inception: 2021
Stage: Seed, Series A
Focus: Technology
Notable Portfolio: Shield AI, Kraken, Apeel, Fitspire, PayTM
Next5 Ventures is a visionary venture capital firm dedicated to keeping ahead of industry and consumer trends. The firm's investment concept is based on five fundamental elements: fire, water, air, minerals, and space, which represent its comprehensive approach to discovering and fostering emerging businesses across several industries. Next5 Ventures, with a focus on harnessing technology disruption and a strong worldwide network, is committed to making strategic investments in companies at the forefront of innovation. Using a systematic and data-driven approach, the business is well-positioned to make effective investment decisions and steer its portfolio firms to long-term development and success.
Year of Inception: 2021
Stage: Seed, Series A
Focus: Technology
Notable Portfolio: D-Matrix, Docker, JupiterOne, Kaso, Mamo, Zeno Health
Cyfr Capital is a pioneering force in Oman’s venture capital industry, employing its strategic investments, varied portfolio, and global perspective to foster innovation and achieve global impact. The firm's investment approach prioritizes a 30% regional and 70% worldwide investment split, with a particular emphasis on early-stage firms in the expansion/late stage and growth phases. Cyfr Capital's broad investment destinations include the United States, the United Arab Emirates, India, and others, reflecting its worldwide investing strategy. The investment areas span from corporate applications and infrastructure to a variety of others, demonstrating the company's dedication to fostering innovation throughout industries. Noteworthy is the firm's portfolio of 9 companies, which includes 3 unicorns, showcasing its strategic investments in companies such as MX, Docker, and JupiterOne.
Year of Inception: 2016
Stage: Series B, Series C
Focus: Technology
Notable Portfolio: Fractyl, Allurion, iNNOVATEQ
IDO Investments is a pioneering venture capital business in Oman dedicated to building a knowledge-based economy in the Sultanate. The founding partners, which include major organizations such as the State General Reserve Fund (SGRF), Omantel, the Oman Oil Company (OOC), and the Research Council (TRC), have invested RO50 million (US$130 million) in paid-up capital to promote the expansion of Oman's knowledge-based economy. The company's strategic focus on health sciences, energy and water, food and agriculture, and associated technologies demonstrates its dedication to provide practical advantages to Oman. The firm's investment strategy has a two-pronged approach, with a focus on developing soltiions to Oman's major challenges and critical issues as well as pursuing high financial returns from worldwide markets.
Angel Investors in Oman
Angel investors may act as an individual or as a syndicate to fund projects of their preference, so these networks are the best opportunity for you to find a potential Angel with an aligned vision and interests.
Stage: Pre Seed, Seed
Focus: Sector Agnostic
Notable Portfolio: -
Angel Match is a comprehensive platform that provides access to a vast database of over 90,000 angel investors, angel groups, venture capitalists, micro-VCs, and private equity companies. This platform offers entrepreneurs with a strong tool for quickly identifying and connecting with possible investors who share their company goals. One of the primary advantages of utilizing Angel Match is the ability to filter the investor database based on investment interests, funds, stages, and regions, allowing entrepreneurs to identify investors who are most suited for their firm. The platform's remarkable list of investors from prominent VC firms, each with a proven track record of investing in a variety of sectors, highlights its ability to promote significant interactions between entrepreneurs and investors.
Stage: Pre Seed, Seed
Focus: Technology
Notable Portfolio: -
Angel Investments LLC. is a renowned early stage/seed stage investor organization created by experienced serial entrepreneurs in Muscat, Oman. Angel Investments, which includes entrepreneurs, CEOs, venture capitalists, and business leaders with a track record of founding, funding, and building world-class companies, seeks to invest profitably in the Omani entrepreneurial ecosystem and advance early-stage innovators to the next stage of capital formation. The company's mission is to be the most successful investor in Oman's early-stage startup ecosystem, providing expertise, assistance, and value to the industry. The group's investment objectives focus around pursuing early-stage technology-driven firms with sustainable and scalable business models, creative solutions, and a competitive edge. It emphasizes its commitment to helping startups with significant growth potential.
Closing Thoughts on VCs and Angel Investors in Oman
Statistics demonstrate the critical impact of venture capital in fostering the expansion of Oman's startup ecosystem. According to recent statistics from the Oman Technology Fund (OTF), which serves as a primary accelerator for technology-driven enterprises in the nation, venture capital investments in Omani startups have increased significantly, with a year-over-year increase in financing volume and transaction flow. Furthermore, record-breaking transactions in 2022, such as Tunisia's InstaDeep's $100 million raise, Egypt's Swvl's $121.5 million PIPE financing, and Thindr's $20 million series A round, demonstrate the significant role of venture capital in accelerating the growth of startups in the region. The surge in investments and the strategic role played by venture capitalists highlight their significant impact in shaping Oman’s entrepreneurial landscape.
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