Oman Investment Authority Invests In Golden Gate Ventures
The firm’s decision to open a local office in Oman aligns with its strategy to support business growth and innovation.
Singapore-based venture capital firm Golden Gate Ventures has received an undisclosed investment from the Oman Investment Authority (OIA) through its technology investment arm, Innovation Development Oman (IDO).
Golden Gate Ventures, established in 2011, has invested in over 100 early- to mid-stage companies across fintech and deeptech, among other sectors. Its MENA arm aims to develop a pipeline of investment opportunities, support Omani founders, and connect local startups with global resources.
The firm’s decision to open a local office in Oman, which was led by Michael Lints and Hussain Abdulla, aligns with its strategy to support business growth and innovation. "Oman's backing signals a massive vote of confidence in our ability to cultivate a thriving venture capital ecosystem in the Gulf," said Lints, in a statement.
Similarly, Ibrahim Al Eisri, chief information officer - private equity at OIA, said, "We are pleased to partner with Golden Gate Ventures MENA Fund I as part of our commitment to diversifying Oman's investment portfolio, attracting FDI, and leveraging OIA's investments to transfer international expertise to the Omani startup ecosystem. In addition, OIA aims to redirect its investments to Omani startups and support global projects that drive economic development and technological innovation in Oman and the region. This all embodies OIA's commitment to delivering the Government's agendas and Oman Vision 2040."
With Gulf sovereign wealth funds increasing their exposure to venture capital, OIA’s investment strengthens Oman's position in the region’s startup economy. The fund’s local presence will help connect Omani startups with international investors.
The partnership also aligns with OIA’s strategy to diversify Oman's economy by investing in high-growth sectors and supporting long-term development. It also supports Golden Gate Ventures MENA’s plan to expand investment opportunities in the region.
Last year, Golden Gate Ventures launched a $100 million fund focused on the MENA region, with $20 million in commitments from Qatari investors.
Golden Gate Ventures had also opened an office in Saudi Arabia in December 2023 as part of its plan to expand throughout the Middle East.
Pictured on image, from left to right, are Golden Gate Ventures MENA partners Hussain Abdulla and Michael Lints.
