The largest investment fund of its kind in Jordan, the Innovative Startups and SMEs Fund (ISSF), has announced that it has increased its commitment to the Oasis Ventures II fund “OVII,” managed by Oasis500, from $3 million to $5 million.
Through pre-seed and seed finance, Company strategically focusses on boosting early-stage ICT startups in Jordan. Together, these portfolio firms have raised an astounding $27 million in outside funding to date.
Mohammed Al Muhtaseb, CEO of ISSF, stated: “Oasis500’s role in the MENA region’s early-stage investment scene is pivotal. Established in 2010 as the first accelerator, they helped ignite the Jordanian and MENA startup ecosystems.
They are more confident in Oasis500’s success, as evidenced by our expanded investment to OVII. They are doubling down on that success by arming them with more power, enabling them to double down on the winners in their portfolio.
Luma Fawaz, CEO of Oasis500, added, “Oasis500 and the ISSF share a vision that makes them excellent partners. Through this partnership, we have invested in and supported 36 startups, 36% of which are led by female founders. Our economic impact is significant, having created 300 direct and 1,000 indirect jobs.
Interestingly, they raised $5 for the firms in our portfolio for every $1 that we funded. It will put even more effort into some of our top achievers with the help of ISSF’s increased financing.
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Pre-seed and seed investment are available in company for Jordanian ICT startups. Portfolio firms have raised $27 million in external investment.
The ISSF-Oasis500 cooperation has helped 36 start-ups, 36% of which are women-founded. Additionally, the project created 300 direct and 1,000 indirect jobs.
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About Oasis500
Oasis500 is MENA’s leading tech seed investor and accelerator. They help exceptional entrepreneurs scale their ideas. That involves finding entrepreneurs, investing in their firms, bridging their know-how gap, and helping them acquire follow-on finance.
