MUSCAT: Oman Investment Authority is expanding its exposure to advanced technology and life sciences through investments linked to the innovation ecosystems of Cambridge and Oxford universities, as it seeks financial returns and opportunities to transfer expertise to Oman.
OIA said its investments in Cambridge Innovation Capital and Oxford Science Enterprises provided access to portfolios of technology businesses working in fields including life sciences, medical devices, semiconductors and quantum computing.
The investments form part of OIA’s strategy to diversify its international portfolio while building links with companies developing technologies that could support Oman’s transition towards a knowledge-based economy.
Cambridge Innovation Capital focuses on converting research and intellectual property developed within the Cambridge ecosystem into commercially viable businesses.
Companies within its portfolio include CMR Surgical, which develops robotic systems designed to improve the precision of minimally invasive surgery.
The portfolio also includes Pragmatic Semiconductor, a developer and manufacturer of low-cost flexible electronic chips used in Internet of Things applications.
Other investments include companies developing antibody therapies and Riverlane, which produces error-correction technologies and software for quantum computers.
OIA’s investment through Oxford Science Enterprises provides exposure to businesses established around research originating at the University of Oxford.
Its portfolio includes Quantum Motion, which is developing scalable quantum-computing processors, and Oxford Quantum Circuits, which develops quantum computers and related technologies.
The Oxford portfolio also includes businesses working on biomolecular measurement, drug and gene-therapy development and portable medical diagnostic devices.
Ibrahim bin Said al Isri, Head of Private Markets Investments at OIA, said advanced technologies had become important drivers of economic, scientific and social development.
The investments allow OIA to follow developments in healthcare, scientific innovation and quantum computing while examining potential opportunities to transfer knowledge and technology to the Sultanate of Oman, he said.
They could also support partnerships between Omani institutions and international technology companies and research platforms.
Al Isri said the investments were intended to support Oman’s technology-sector objectives while generating sustainable financial returns from industries with strong long-term growth prospects.
The investments are held through OIA’s Generations Portfolio, which manages overseas assets across more than 50 countries.
The portfolio invests in a range of international markets and asset classes to generate long-term returns and spread investment risk for future generations.
OIA has also invested in local technology funds, start-ups and innovation programmes as part of efforts to develop Oman’s domestic technology ecosystem and attract specialised knowledge and emerging technologies. — ONA
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