𝐏𝐡𝐚𝐳𝐞 𝐕𝐞𝐧𝐭𝐮𝐫𝐞𝐬 𝐓𝐚𝐫𝐠𝐞𝐭𝐬 𝐎𝐯𝐞𝐫 $𝟕𝟓 𝐌𝐢𝐥𝐥𝐢𝐨𝐧 𝐟𝐨𝐫 𝐀𝐈 𝐚𝐧𝐝 𝐃𝐞𝐞𝐩 𝐓𝐞𝐜𝐡

Oman’s technology investment ecosystem is gaining momentum as Muscat-based venture capital firm Phaze Ventures launches two funds targeting more than $75 million combined to support artificial intelligence and deep technology companies. The firm has already secured over $40 million in investor commitments and deployed more than $10 million across 10 companies, signalling growing investor interest in emerging technologies.
The two funds have distinct investment priorities. Phaze Ventures Fund II will continue investing globally in AI and deep tech, backed by anchor investors including ITHCA Group, Ominvest and Oman LNG Development Foundation. Meanwhile, the Phaze Ventures Oman Fund, anchored by Future Fund Oman, will focus on domestic businesses applying AI to real-world challenges.
This initiative presents an important opportunity for Oman’s startup ecosystem, helping connect entrepreneurs with capital, expertise and networks to develop and scale technology-driven businesses. It also reinforces the country’s ambition to build a diversified, innovation-led economy under Oman Vision 2040.
As AI adoption accelerates across industries, investments in promising founders and deep-tech solutions could help create new businesses, strengthen local capabilities and expand Oman’s reach in regional and global technology markets.