In a significant move to boost Jordan's startup ecosystem, the Innovative Startups and SMEs Fund (ISSF) has made a strategic investment in Global Ventures' Fund III. This partnership aims to channel resources and expertise into the burgeoning Jordanian entrepreneurial landscape, signaling a new chapter in the country's innovation journey.

ISSF's $5 Million Investment

The ISSF, Jordan's largest investment fund of its kind, has committed $5 million to Global Ventures' Fund III. This substantial investment underscores the ISSF's dedication to empowering local startups and SMEs.

Global Ventures: A Key Player in MENA Venture Capital

Founded in 2018 by Noor Sweid, Global Ventures has established itself as a prominent venture capital firm in the Middle East and North Africa. With a focus on Series-A investments and $300 million in assets under management, the firm brings valuable experience to the partnership.

Mandate to Invest in Jordanian Startups

As part of the agreement, Global Ventures has been tasked with directing investments specifically toward Jordanian startups. This mandate aligns with the ISSF's mission to nurture and grow the local entrepreneurial ecosystem.

ISSF: A Joint Initiative for Economic Growth

The ISSF, established in 2017 through a collaboration between the World Bank and the Central Bank of Jordan, aims to support Jordanian startups through both direct investments and contributions to venture capital funds.

Leadership Insights

Mohammed Al Muhtaseb, CEO of ISSF, expressed optimism about the partnership, citing Global Ventures' track record of investing in Jordanian companies. Noor Sweid, Managing Partner at Global Ventures, highlighted the vibrant startup scene in Jordan, noting the significant contribution of SMEs and startups to the country's private-sector GDP and job creation.

Potential Economic Impact

The collaboration between ISSF and Global Ventures is expected to inject fresh capital and expertise into Jordan's startup sector. With 98% of recently registered companies in Jordan being SMEs and startups, this investment could have a substantial impact on the country's economic landscape.

The $5 million investment by ISSF in Global Ventures' Fund III represents a pivotal moment for Jordan's startup ecosystem. By combining local knowledge with global expertise, this partnership has the potential to catalyze innovation, drive economic growth, and position Jordan as a key player in the regional startup scene. As the collaboration unfolds, it will be crucial to monitor its impact on job creation, technological advancement, and overall economic development in Jordan.