Phaze Ventures Fund III

Phaze Ventures

cb Email

Status

ACTIVE

Global HQ

Muscat, Oman

Countries of investment

Oman
Saudi Arabia
United Arab Emirates
Qatar
Kuwait
Bahrain
United States
Canada

Investment stages

Pre-Seed
Seed
Series A

Industries

AI
Deep Tech
Machine Learning
Health Tech
Robotics
Enterprise Software
Fintech
Cybersecurity

About
Phaze Ventures is a Muscat-headquartered venture capital firm founded in 2018 by Abdullah Al-Shaksy, Mohammed Al-Wahaibi and Masoud Al-Rawahi, with team members in Muscat, Dubai and Riyadh. After a $30M first fund launched in 2021, in October 2026 it announced more than $40M in commitments toward a $75M+ two-fund platform for AI and deep tech. Phaze Ventures Fund II, anchored by ITHCA Group, Ominvest and the Oman LNG Development Foundation, targets early-stage AI and deep tech companies internationally, while the Phaze Ventures Oman Fund, anchored by Future Fund Oman, backs AI-enabled businesses in Oman. Its first 10 investments from the new platform total more than $10M and include Arabic.AI, Sully.ai, Andromeda Surgical, Boardy.ai and Metal.

Min check size: $200K
Max check size: $2M
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Investment Thesis

Phaze Ventures invests in early-stage AI and deep tech companies, with a focus on the GCC and North American markets. It writes initial checks of $200K to $2M and often co-invests alongside leading US investors such as a16z, 8VC, Standard Capital and Y Combinator. Its differentiator is its position as Oman's oldest private venture capital firm with sovereign and corporate Omani backing, plus a dedicated Oman vehicle that brings AI capability to local businesses while giving international portfolio companies a path into the Gulf.

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Manager's Experience

Abdullah Al-Shaksy has more than 10 years of investing experience in public and private equities and supports portfolio companies in the US, Europe and the Middle East. Mohammed Al-Wahaibi brings engineering, operating and investment experience across Oman and the UK, while Masoud Al-Rawahi is founder and CEO of PhazeRo with more than 10 years of technology and entrepreneurship experience in the US and Oman. The team has run Oman's first private venture firm since 2018, with exits including CyberOwl to DNV and Carzaty to Kavak.