Phaze Ventures launched two venture funds targeting over $75 million. The Oman-headquartered firm announced the platform on October 28, 2026. One fund will back global AI and deeptech startups, and the other will support homegrown AI-enabled businesses.
Funding so far
The two funds have secured more than $40 million in commitments. ITHCA Group, Ominvest, and Oman LNG Development Foundation anchor Fund II. Future Fund Oman anchors the Oman Fund.
Early portfolio
The new funds have already made their first 10 investments. They include Arabic.AI, Sully.ai, Andromeda Surgical, Boardy.ai, and Metal. Co-investors include a16z, 8VC, Standard Capital, Y Combinator, and Baidu Ventures.
Company footprint
Phaze Ventures was founded in 2018 and is Oman's oldest private venture capital firm. It has team members in Muscat, Dubai, and Riyadh. It manages capital for more than 50 investors across the Gulf, India, and beyond.
Phaze Ventures is still in discussions to grow the two-fund platform. The firm focuses on the GCC and North American markets. Investors include sovereign entities, listed companies, corporates, and family offices.