{
  "id": 16896629,
  "title": "Oman's Phaze Ventures launches two AI funds targeting over $75 million",
  "url": "https://urgent.news/2026/10/28/omans-phaze-ventures-launches-two-ai-funds-targeting-over-75-million",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-28T10:32:51.000Z",
  "source": {
    "name": "Wamda",
    "slug": "wamda",
    "url": "http://wamda.com/2026/10/omans-phaze-ventures-launches-ai-funds-targeting-75-million"
  },
  "original_language": "en",
  "account": "Oman-based venture capital firm Phaze Ventures has introduced two new funds focused on investing in AI and deeptech startups, aiming to amass more than $75 million in combined capital. The new funds have already secured over $40 million in commitments.\n\nPhaze Ventures Fund II, supported by ITHCA Group, Ominvest, and Oman LNG Development Foundation, follows a global investment strategy in AI and deeptech. Meanwhile, the Phaze Ventures Oman Fund, backed by Future Fund Oman, targets domestic AI-enabled businesses.\n\nThe venture capital firm, founded in 2018 by Abdullah Al Shaksy, Mohammed Al Wahaibi, and Masoud Al Rawahi, has offices or teams in Muscat, Dubai, and Riyadh. To date, Phaze Ventures has made 10 investments in AI and related startups, including Arabic.AI, Sully.ai, Andromeda Surgical, Boardy.ai, and Metal.\n\nDespite the rapid expansion of the AI sector, Oman and the broader Gulf region must be proactive in fostering innovation rather than merely reacting to competitors. Abdullah Al Shaksy, co-founder and CEO of Phaze Ventures, emphasized this point.\n\nPhaze Ventures is actively seeking early-stage investments in AI and deeptech companies, with a strong belief in founders who blend domain expertise with robust engineering. The firm's first investments include Arabic.AI, Sully.ai, Andromeda Surgical, Boardy.ai, and Metal. Notable investors in these ventures include a16z, 8VC, Standard Capital, Y Combinator, and Baidu Ventures.",
  "summary": "Oman-based Phaze Ventures has launched two venture capital funds targeting more than $75 million combined, securing over $40 million in investor commitments to date. The funds will invest in artificial intelligence and deeptech startups in Oman and international markets. Phaze Ventures Fund II is anchored by ITHCA Group, a subsidiary of Oman Investment Authority, as well as Ominvest and Oman LNG…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}