Phaze Ventures Unveils Dual $75 Million Global Venture Platform
Venture capital firm Phaze Ventures, headquartered in Muscat, has officially launched a dual-fund investment platform targeting more than $75 million in combined capital. The new platform aims to accelerate early-stage artificial intelligence and deeptech companies across domestic and global markets. Backed by prominent institutional investors, the platform has already secured over $40 million in initial capital commitments and deployed more than $10 million into its first portfolio cohort.
Structure of the Dual-Fund Platform and Institutional Backers
The venture initiative is structured into two distinct investment vehicles designed to target specific growth vectors across the tech ecosystem:
- Phaze Ventures Fund II: Anchored by ITHCA Group and the Oman LNG Development Foundation, this vehicle focuses on global early-stage B2B artificial intelligence and deeptech startups, primarily spanning GCC and North American markets.
- The Oman Fund: Anchored by Future Fund Oman, this fund focuses exclusively on nurturing, scaling, and financing homegrown, AI-enabled enterprises within the Sultanate.
Initial Deployments, Global Co-Investors, and Portfolio Highlights
Demonstrating strong deployment velocity, the funds have already invested over $10 million across 10 high-growth technology companies. Notable early investments include Arabic.AI, Sully.ai, Boardy.ai, Metal, and Andromeda Surgical. In backing these ventures, Phaze Ventures co-invests alongside top-tier global venture firms, including Andreessen Horowitz (a16z), 8VC, Y Combinator, Standard Capital, and Baidu Ventures.
Strengthening Oman’s Position in the Regional DeepTech Landscape
The launch of the $75 million platform aligns directly with national digital economy goals under Oman Vision 2040 and coincides with the establishment of the International Financial Centre of Oman. By deploying Omani and Gulf capital directly into early-stage founders rather than downstream public markets, Phaze Ventures seeks to retain equity value locally while positioning Oman as an international hub for deeptech innovation, high-skilled job creation, and intellectual property development.
Accelerating the Next Wave of Middle Eastern Tech Leadership
Ultimately, Phaze Ventures’ expanded fund platform signals a major shift toward regional self-reliance and thesis-driven investing across the Middle East. Providing critical early-stage capital from pre-seed to Series A ensures that Omani and GCC founders receive the institutional backing needed to build globally competitive platforms. As the dual funds reach their $75 million target, Phaze Ventures remains central to driving the region's artificial intelligence transformation.
