Key Takeaways
- • Phaze Ventures, an Oman-headquartered venture capital firm, has launched two funds targeting more than $75 million in combined capital, with over $40 million already committed to date.
- • The two vehicles are Phaze Ventures Fund II, continuing the firm's global early-stage AI and deeptech strategy, and Phaze Ventures Oman Fund, dedicated to AI-enabled companies operating in Oman.
- • Institutional backers include ITHCA Group, Ominvest and Oman LNG Development Foundation for Fund II, while Future Fund Oman anchors the Oman-focused vehicle.
- • Across both funds the firm has completed 10 investments, including Arabic.AI, Sully.ai, Andromeda Surgical, Boardy.ai and Metal, and manages capital for more than 50 investors.
Summary
Phaze Ventures, an Oman-headquartered venture capital firm, has launched two new funds targeting more than $75 million in combined capital, according to the firm's announcement reported by CairoScene. More than $40 million has been committed to date. The vehicles are Phaze Ventures Fund II, which continues the firm's global early-stage AI and deeptech strategy, and Phaze Ventures Oman Fund, a dedicated vehicle for AI-enabled companies operating in Oman.
For Fund II, the reported institutional backers are ITHCA Group, Ominvest and Oman LNG Development Foundation. Future Fund Oman is anchoring the Oman-focused vehicle. The firm has not disclosed individual fundraising targets for each fund, final closing dates or the total capital already deployed.
Founded in 2018 by Abdullah Al Shaksy, Mohammed Al Wahaibi and Masoud Al Rawahi, Phaze Ventures invests across the GCC and North America, with team members in Muscat, Dubai and Riyadh. Across the two funds, the firm has completed 10 investments so far, including Arabic.AI, Sully.ai, Andromeda Surgical, Boardy.ai and Metal. The firm manages capital for more than 50 investors, spanning sovereign entities, corporations, family offices and other institutional backers.
The launch comes as Oman expands its financial and technology ecosystem, including work on the International Financial Centre of Oman, and as investment activity in artificial intelligence and advanced technologies continues to grow across the Gulf.
For Fund II, the reported institutional backers are ITHCA Group, Ominvest and Oman LNG Development Foundation. Future Fund Oman is anchoring the Oman-focused vehicle. The firm has not disclosed individual fundraising targets for each fund, final closing dates or the total capital already deployed.
Founded in 2018 by Abdullah Al Shaksy, Mohammed Al Wahaibi and Masoud Al Rawahi, Phaze Ventures invests across the GCC and North America, with team members in Muscat, Dubai and Riyadh. Across the two funds, the firm has completed 10 investments so far, including Arabic.AI, Sully.ai, Andromeda Surgical, Boardy.ai and Metal. The firm manages capital for more than 50 investors, spanning sovereign entities, corporations, family offices and other institutional backers.
The launch comes as Oman expands its financial and technology ecosystem, including work on the International Financial Centre of Oman, and as investment activity in artificial intelligence and advanced technologies continues to grow across the Gulf.
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