The Innovative Startups and SMEs Fund (ISSF) announce a USD 5 million investment in MSA Novo’s MENA fund, catalyzing Jordan’s entrepreneurial landscape. This strategic partnership aims to empower Jordanian startups, providing vital equity capital and accelerated access to global markets.
For Jordanian startups, this strategic investment opens up new doors and provides the funding they require to grow and prosper in the international market. The Innovative Startups and SMEs Fund is still committed to promoting innovation, generating employment, and advancing Jordan’s economy and also will target the Financial Technology, Enterprise and consumer sector.
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Mohammed al Muhtaseb, CEO of ISSF, said, “We are very proud of our investment in MSA Novo, a global VC with a successful track record of scaling innovative startups. MSA has demonstrated a strong commitment to the Jordanian ecosystem, evident in both their investment thesis and their investment allocation for Jordan, which mobilizes additional capital to Jordanian startups thereby amplifying the ISSF’s investment. Through this strategic investment, our objective is not just to infuse vital equity capital but also to effectively open doors for Jordanian startups, providing them with accelerated access to global markets through the expertise of a key international player in the venture space.”
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Ben Harburg, MSA Novo Managing Partner, commented, “ISSF was one of the first regional sovereign investors to support MSA’s vision of bringing global institutional investing to the Middle East venture space. In the process, MSA generated hundreds of jobs in Jordan. We are honored to again receive the trust of this critical institution tasked with the development of the Jordanian technology and entrepreneurship ecosystem and we look forward to robustly executing upon this mission in our new fund.”
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About Innovative Startups and SMEs Fund
Founded in 2018 Innovative Startups and SMEs Fund will promote entrepreneurship and contribute to job creation in Jordan by increasing private, early-stage equity finance for innovative small and medium enterprises (SMEs). In addition to early-stage financing, the Innovative Startups and SMEs Fund will encourage entrepreneurship across Jordan with outreach programs to entrepreneurs from lagging regions, underserved sectors and underserved groups such as youth and women entrepreneurs.
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