Jordan’s Innovative Startups and SMEs Fund (ISSF) has made a $5 million investment in Global Ventures’ Fund III, a UAE-based venture capital firm focused on Series-A investments in emerging markets across the Middle East and Africa.
Global Ventures has been mandated by ISSF to invest in Jordanian startups, the press release said.
Founded in 2018, Global Ventures has $300 million in assets under management and has invested in over 60 businesses in more than 10 markets. The ISSF, established in 2017 by the World Bank and the Central Bank of Jordan, aims to bolster Jordanian startups through direct investments and venture capital fund partnerships.
Mohammed Al Muhtaseb, ISSF CEO, stated, “We are happy to welcome Global Ventures Fund III to our portfolio of funds. They have demonstrated deep belief in the Jordanian ecosystem, having invested in several Jordanian companies from previous funds.”
Noor Sweid, Global Ventures’ Managing Partner added, “We are thrilled to extend our partnership with ISSF and welcome them into Global Ventures’ Fund III. We are excited to support their mission of backing Jordanian entrepreneurs and startups.”
Jordan has hundreds of startups already active in the country. The nation’s SMEs generate more than 50% of private-sector GDP and 60% of new employment opportunities.
This partnership underscores ISSF’s commitment to empowering Jordan’s entrepreneurial ecosystem and leveraging local talent to address regional challenges and opportunities.
