Jordan’s ISSF and Global Ventures Join Forces with $5M Investment in Startups

The Innovative Startups and SMEs Fund (ISSF), Jordan's largest investment fund, has announced a
$5 million investment in Global Ventures Fund III. Global Ventures, a prominent venture capital firm focusing on growth-stage investments across the Middle East and Africa, has been tasked by ISSF to channel funds into Jordanian startups. This strategic move underscores ISSF's dedication to bolstering the Jordanian startup ecosystem.

"We are delighted to add Global Ventures Fund III to our portfolio," said Mohammed Al Muhtaseb, ISSF CEO. "Global Ventures has shown a strong belief in the Jordanian market, having previously invested in several local companies. Their investment approach aligns perfectly with our vision for Jordan. Together, we will target strategic sectors that address regional challenges and leverage Jordanian talent to seize emerging opportunities."

Noor Sweid, Managing Partner at Global Ventures, expressed similar enthusiasm: "We are excited to continue our collaboration with ISSF and welcome them to our Fund III. Supporting Jordanian entrepreneurs and startups is a mission we share with ISSF. With a vibrant startup scene in Jordan, where SMEs and startups account for 98% of newly registered companies, contributing over 50% to the private-sector GDP and creating 60% of new jobs, we are eager to witness the transformative impact these ventures will have globally."