Juvenescence27 Oct 2019 12:52
One of their largest investors..
IDO Investments was established three years ago to support the growth of a knowledge based economy in the Sultanate. Our founders include notable institutions and organisations like the State General Reserve Fund (SGRF), Omantel, Oman Oil Company (OOC) and The Research Council (TRC). IDO Investments is the Sultanate’s first strategic Venture Capital Fund which looks at providing solutions to the unique business challenges that we have in Oman, as well as aid Omani startups with scalable potential to compete in global markets. To date, our portfolio comprises of eleven investments and we expect to close a few more by the end of 2019. The four founding partners have invested RO50mn (US$130mn) in IDO as the paid up capital and aim to enhance value by plugging in the startups to the partners’ core businesses and create synergies. Overall, IDO Investments primarily focus on life sciences, energy and water, food and agriculture sectors as well as other related technologies with the aim of delivering tangible benefits to Oman.
Why did they invest in Juvenescence?
Juvenescence is a developer of therapeutics designed to increase healthy human longevity. They are building a portfolio of therapeutic assets targeting ageing, regeneration and the diseases of aging. Juvenescence and its portfolio companies use AI and machine learning techniques to discover and develop new drugs. They have established strong partnerships with numerous universities and institutions, most notably The Buck Institute for Research on Ageing.
Oman Impact:
With its portfolio of medical innovators, Juvenessence’s technologies have the impact both the medical and economics of longevity and ageing. There is ongoing discussion on a possible partnership where Oman’s lead thinkers and scientist can have the opportunity for secondments in the various labs and companies. There is also an exclusive event series in Oman of global experts in longevity and create a dialogue on its economic impact locally and globally.
IDO Value Add:
As a strategic investor into Juvenescence, we see mutual potential for Oman to become a hub for longevity. Potential manufacturing, as well as a nurturing ecosystem with the possibility of growth makes Oman the ideal location for Juvenessence to explore further opportunities.
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