Strengthening Cross-Border Venture Capital Collaboration
In a strategic move to bolster Saudi–Omani investment ties, ITHCA Group, an investment firm backed by Oman Investment Authority, has invested in Waad Investment, a Saudi-based venture capital firm. The deal, announced at LEAP 2025, aims to enhance the Gulf’s startup ecosystem. It will help fostering partnerships in telecommunications, information technology, and venture capital.
ITHCA and Waad Expanding the Gulf Startup Ecosystem
The investment is designed to support early and growth-stage startups in both Saudi Arabia and Oman, helping them scale within the region. It aligns with:
- Saudi Vision 2030 – Diversifying the economy and fostering entrepreneurship
- Oman Vision 2040 – Driving digital transformation and innovation
- GCC Expansion – Strengthening Saudi-Omani business ties and opening new markets
Waad Investment – A Leading Regional VC
Waad Investment, launched in 2024, has quickly emerged as one of the most active venture capital firms in the MENA region. The firm has invested in over 35 startups, including Saudi and Omani tech companies, focusing on industries like fintech, AI, and digital infrastructure.
With ITHCA Group’s backing, Waad Investment is set to further expand its portfolio, offering entrepreneurs greater access to funding and mentorship opportunities.
Waad ITHCA colab is a step towards a more Unified GCC Tech Hub
The Saudi and Omani governments are increasingly fostering economic cooperation to build a stronger Gulf-based startup ecosystem. In effect, This investment marks a major step toward positioning the region as a global innovation hub.
The Future of VC in the Gulf
With increasing investments in tech and innovation, Saudi Arabia and Oman are setting the stage for a thriving startup ecosystem. Additionally, it’s bringing the Gulf countries together for more technology-based ventures. The ITHCA-Waad collaboration will create more opportunities for startups. Moreover, it will reinforce the Gulf’s position as a leader in venture capital and digital transformation.
