Oman's $120M Spanish fund backs rocket maker PLD Space

What's the deal? The Oman Investment AuthorityDealroom has a profile for this one. Try Dealroom → has invested in Spanish space transport company PLD Space through its Second Spanish-Omani Private Equity FundDealroom has a profile for this one. Try Dealroom →, deepening its exposure to space technology. The fund holds US$125.4M (roughly $120 million), split as a US$61.6M commitment from each partner, plus a contribution from manager MCHDealroom has a profile for this one. Try Dealroom →.

Who is PLD Space? Founded in 2011 by Raúl Torres and Raúl Verdú, the Elche-based company designs, builds, and operates launch vehicles. In 2023 it became the first private company to launch a rocket in Europe, and it is developing reusable vehicles to send small satellites to low Earth orbit.

Why now? PLD Space signed a memorandum of understanding on February 20, 2025 with the Etlaq spaceportDealroom has a profile for this one. Try Dealroom → in Duqm to launch its "Miura 5" rocket from Oman, following commercial and technical feasibility studies. The deal ties the investment to Oman's ambitions in the space economy.

What's the endgame? The Second Spanish-Omani fund, established in December 2023, extends a partnership with Spain's state-owned CofidesDealroom has a profile for this one. Try Dealroom → that began in 2018. It targets Spanish companies across manufacturing, tourism, logistics, healthcare, food and agribusiness, energy, and telecoms, while seeking synergies with Omani firms and expansion into Oman's market.

What they're saying: The investment fits "strategic partnerships" that aim to diversify the portfolio geographically and by sector, attract capital, and transfer knowledge to Oman, said Saif bin Hamad Al Mahrouqi, senior manager of joint government partnerships at the authority (translated from Arabic). He added that Oman has built similar partnerships with countries including Qatar, Jordan, Turkey, China, Uzbekistan, Vietnam, Pakistan, Spain, Azerbaijan, India, and Brunei.

The signal: Oman is using private equity to plant an industrial footprint in a fast-growing sector — tying capital to a spaceport deal that could see European rockets launch from its soil.

Read more: omannews.gov.om

Image credit: NASA Goddard Photo and Video