• The Jordanian Innovation Fund has committed $5 million to Rua Growth I LP, targeting early-stage startups to facilitate their growth and market expansion in Saudi Arabia and the Gulf region.
• This partnership aims to leverage the strengths of Jordan’s entrepreneurial ecosystem, fostering innovation and enhancing the competitive positioning of Jordanian startups in regional markets.
• The investment aligns with the growing demand for innovative solutions in the Middle East, reflecting a robust venture capital landscape that reached nearly $2 billion in the first half of 2024.

The Jordanian Innovative Startups & SMEs Fund (ISSF) has announced an investment of USD 5M in Rua Growth, a venture capital fund focused on supporting early-stage startups.

This investment aligns with the fund’s objective to empower Jordanian companies. It enables businesses to secure the necessary venture capital for robust growth and market expansion.

Strengthening the Startup Ecosystem

The investment was formalized in October 2024 and underscores the Jordanian Innovation Fund’s commitment to fostering entrepreneurial ventures.

By providing essential capital, the fund aims to enhance the capacity of Jordanian startups to innovate and compete effectively.

This proactive approach positions Jordanian startups to take advantage of emerging opportunities in high-growth markets.

Mohammad Al-Muhtasib, CEO of the Jordanian Innovation Fund, expressed enthusiasm about this collaboration. He stated, “We are pleased to welcome Rua Growth Fund into our investment portfolio.”

“This collaboration reflects the harmony of our investment strategies and contributes to achieving our shared goal of empowering Jordanian startups through the provision of the necessary venture capital for their growth and expansion in the Saudi and Gulf markets,” he added.

A Strategic Partnership for Growth

The partnership with Rua Growth Fund represents a significant step towards bridging the gap. That is, the gap separating the vibrant entrepreneurial ecosystem in Jordan and the lucrative markets in Saudi Arabia.

The fund’s strategy emphasizes leveraging local strengths, such as a skilled workforce and innovative startups, to drive growth.

Turki Al-Juaib, Managing Partner at Rua Growth Fund, commented on the importance of this partnership.

He said, “We are excited about this strategic partnership with the Jordanian Innovation Fund and appreciate the crucial role the fund plays in fostering innovation and supporting entrepreneurial companies in Jordan.”

Aligning with Regional Market Trends

This investment exemplifies a timely alignment with regional market trends, particularly the increasing demand for innovative solutions in the Gulf region.

According to recent reports, the Middle East’s venture capital landscape has witnessed a dramatic rise, with investments reaching nearly USD 2B in the first half of 2024 alone.

By positioning itself at the forefront of this trend, the Jordanian Innovation Fund not only enhances its competitive edge but also contributes to the broader economic development of Jordan.

This strategic investment paves the way for Jordanian startups to expand into new markets, fostering technological advancement and creating job opportunities within the region.