Jordan’s Innovative Start-ups and SMEs Fund (ISSF) Announces $5 Million Investment in MSA Novo
Jordan’s Innovative Start-ups and SMEs Fund (ISSF) has announced a $5 million investment in MSA Capital’s venture fund, MSA Novo, in an effort to bolster support for start-ups in the region. MSA Novo, a venture fund under MSA Capital, focuses on emerging markets and has a strong track record of backing innovative companies.
The CEO of ISSF, Mohamed al Muhtaseb, expressed his enthusiasm for the investment, stating that MSA Capital has shown a steadfast commitment to fostering the growth of start-ups in Jordan. ISSF, which was established in 2017 with a $50 million financing from the World Bank and an additional $48 million from the Central Bank of Jordan, aims to support local businesses and empower promising start-ups.
By investing in MSA Novo, ISSF aims to provide Jordanian start-ups with the necessary funding to scale and succeed in the highly competitive global market. Additionally, the investment will enable these young businesses to gain access to international markets through the expertise of MSA Capital, a prominent player in the venture capital space.
This strategic investment by ISSF aligns with the recommendations of the Jordanian Economic Policy Council, as it aims to boost the local entrepreneurial landscape and create new opportunities for start-ups in the country. With the combined support of ISSF and MSA Capital, Jordanian start-ups can expect accelerated growth and enhanced prospects for success.
Overall, this investment marks a significant milestone for Jordan’s start-up ecosystem, as it not only provides vital equity capital but also facilitates global market access for local entrepreneurs. With the backing of ISSF and expertise of MSA Capital, Jordanian start-ups are well-positioned to make their mark on the international stage.
Analyst comment
Positive news: Jordan’s Innovative Start-ups and SMEs Fund (ISSF) has invested $5 million in MSA Capital’s venture fund, MSA Novo, to support start-ups in the region. This investment will provide funding and access to international markets for Jordanian start-ups, leading to accelerated growth and enhanced prospects for success. This aligns with the recommendations of the Jordanian Economic Policy Council and marks a significant milestone for Jordan’s start-up ecosystem.
