Jordan’s ISSF Invests $5 Million in UAE-Based VC Global Ventures

Jordan’s Innovative Startups and SMEs Fund (ISSF) - the largest of its kind in the country - has announced a $5 million investment in UAE-based Global Ventures’ Fund III, aiming to further support the Kingdom’s growing startup landscape.

“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,” Mohamed Al Muhtaseb, CEO of ISSF, tells StartupScene. “Together, we will focus on strategic verticals that solve the challenges in our region and capitalise on Jordanian talent and skills to take advantage of the opportunities.”

The ISSF was jointly established by the World Bank and the Central Bank of Jordan in 2017 to provide direct investment and capital fund investments to startups, scaleups, and SMEs in the country.