Oman’s Phaze Ventures Launches Two Funds Targeting Over US$75 Million for AI and Deeptech Investments
The firm said it has secured more than US$40 million in investor commitments across the two funds.
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Oman-headquartered venture capital firm Phaze Ventures has launched two new venture funds with a combined target of more than US$75 million to invest in artificial intelligence (AI) and deep technology companies.
Phaze Ventures Fund II, anchored by ITHCA Group, a subsidiary of Oman Investment Authority, Ominvest, and Oman LNG Development Foundation, continues the firm’s global AI and deeptech investment mandate, while Phaze Ventures Oman Fund, anchored by Future Fund Oman, establishes a dedicated capital pool for homegrown AI-enabled businesses.
The firm said it has secured more than US$40 million in investor commitments across the two funds. The funds have deployed more than US$10 million across 10 companies.
“AI is the most disruptive technology shift of our generation. Oman and the Gulf can’t afford to be a spectator, and our participation can’t be limited to playing catch-up through investments in hyperscalers, data centers, and public market offerings,” said Abdullah Al Shaksy, co-founder and CEO of Phaze Ventures. “We need to invest in the founders disrupting industries at home and across the globe, and we need to be a part of that disruption early.”
The new funds’ first 10 investments include Arabic.AI, Sully.ai, Andromeda Surgical, Boardy.ai and Metal, with co-investors including a16z, 8VC, Standard Capital, Y Combinator and Baidu Ventures.
“We back founders who combine domain expertise with strong engineering and learn from every real-world deployment,” said Masoud Al Rawahi, co-founder and Partner at Phaze Ventures.
Founded in 2018, Phaze Ventures is headquartered in Muscat, with team members in Dubai and Riyadh. The firm focuses on early-stage AI and deep technology companies in Gulf Cooperation Council countries and North America.
Across its three fund vehicles, Phaze Ventures manages capital for more than 50 investors, including sovereign entities, listed companies, corporations, and family offices.
“Investors across Oman and the Gulf want a stake in the next generation of AI companies while they are still taking shape. This platform is our answer,” said Mohammed Al Wahaibi, co-founder and Partner at Phaze Ventures.
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Oman-headquartered venture capital firm Phaze Ventures has launched two new venture funds with a combined target of more than US$75 million to invest in artificial intelligence (AI) and deep technology companies.
Phaze Ventures Fund II, anchored by ITHCA Group, a subsidiary of Oman Investment Authority, Ominvest, and Oman LNG Development Foundation, continues the firm’s global AI and deeptech investment mandate, while Phaze Ventures Oman Fund, anchored by Future Fund Oman, establishes a dedicated capital pool for homegrown AI-enabled businesses.
The firm said it has secured more than US$40 million in investor commitments across the two funds. The funds have deployed more than US$10 million across 10 companies.
Entrepreneur Middle East Staff
Entrepreneur Staff
