Jordan’s JCIF Launches $70.5 Million Manara Ventures Fund

Jordan Capital and Investment Fund, a state-backed investment platform focused on strategic sectors and private sector growth, has launched Manara Ventures, a JOD 50 million fund equivalent to approximately $70.5 million targeting Jordanian technology and innovation-driven companies.

The platform has been established within Abu Dhabi Global Market as a fully Sharia-compliant investment vehicle backed by regional institutional investors including Abu Dhabi-based Lunate.

Manara Ventures plans to invest in more than 20 growth-stage Jordanian startups, with cheque sizes ranging from $750,000 to $3 million. Additional capital has also been reserved to support up to 15 companies pursuing regional expansion.

Luma Fawaz has been appointed CEO of the platform. Fawaz previously led Oasis500, where she oversaw more than 180 early-stage investments and worked with over 2,500 entrepreneurs across the region.

“The launch of Manara Ventures marks an important milestone in JCIF’s strategy to expand into venture capital and innovation-led investments,” said Hani Qadi. “We believe Jordan has exceptional entrepreneurial talent, and Manara Ventures will help provide the capital and institutional support needed for these companies to scale.”

According to the fund, its broader focus is on supporting Jordanian startups expanding beyond local markets while strengthening links between regional capital and the country’s technology sector.