The Innovative Startups & SMEs Fund (ISSF) announced a $5 Million investment in Vision Ventures’ Saqr Fund II. Saqr Fund II aims to support early-stage startups through pre-seed, seed, series A, and pre-series B stages. This investment aligns with ISSF’s goals to support Jordanian startups and ecosystems.
The CEO of ISSF, Mohammed Al-Muhtaseb said the fund was elated to welcome Vision Ventures to their portfolio. His words, “We are proud to welcome Vision Ventures to our portfolio of funds.
“Vision Ventures has demonstrated a strong commitment to the Jordanian ecosystem by investing in Jordanian companies, and our investment in Vision Ventures aligns with our vision of catalyzing the growth of our ecosystem of innovative startups in Jordan and providing them with accelerated access to the Saudi and GCC markets.”
On the other hand, Kais Al Essa, Founding Partner and CEO of Vision Ventures commented: “We are proud of our partnership with ISSF. We have always viewed the region as an interconnected network of ecosystems, where each country has its opportunities. Jordan certainly adds a lot of value to the entrepreneurial ecosystem in the MENA region through its talent and innovation.
Go deeper on GCC & Africa tech — $9.99/month.
Deep dives and investor insights the free digest doesn't cover.
“Vision Ventures has been the most active VC in the MENA region since 2019 with investments in the region including Jordan. We’ve been able to create bridges between different markets including between Jordan and GCC where several partnerships and M&As resulted which benefitted the whole eco-system. Through our partnership with ISSF, we intend to continue this role and explore additional synergies.”
About the Innovative Startups and SMEs Fund (ISSF):
The ISSF is a USD 98 million fund established in 2017 and registered in Jordan as a private shareholding company. The fund was established as a partnership between the Central Bank of Jordan with USD 48 million investment and USD 50 million from the World Bank. The ISSF is committed to facilitating funding for Jordanian early-stage startups and SMEs through investments in venture capital funds as well as direct investment in startups.
It endeavors to foster a thriving and supportive entrepreneurial environment that enables promising local entrepreneurs to transform innovative projects into sustainable startups; generate jobs for Jordanian men and women; and prompt economic sectors that serve export markets by capitalizing on the creative and technical capabilities of entrepreneurs and management teams across Jordan.
About Vision Ventures
Vision Ventures is a sector-agnostic VC firm “By Entrepreneurs, for Entrepreneurs”. Vision Ventures invests in early-stage tech startups in MENA since 2016 offering hands-on experience to assist founders in their journey and empower them to accelerate their companies’ growth and realize their dreams. We are always looking for entrepreneurs who are agile, resilient, and want to change the status quo.
Engagement
