• The Innovative Startups and SMEs Fund (ISSF) allocates $5 million to invest in MSA Novo, a MENA-focused fund operating under MSA Capital.
• Mohammed al Muhtaseb, CEO of ISSF, emphasizes the significance of the investment in MSA Novo, highlighting the firm’s track record in scaling innovative startups and its commitment to Jordan’s ecosystem.
• Ben Harburg, Managing Partner at MSA Novo, expresses gratitude for ISSF’s early support and acknowledges the institution’s vital role in fostering Jordan’s technology and entrepreneurship ecosystem.
The Innovative Startups and SMEs Fund (ISSF) announces its 5 USD million investment in MSA Novo, a MENA-focused fund.
MSA Novo operates under MSA Capital, a global investment firm with a focus on emerging markets.
This investment highlights ISSF’s commitment to supporting promising Jordanian startups, aiming to enhance the local entrepreneurial ecosystem and contribute to the national economy.
Mohammed al Muhtaseb, CEO of ISSF, expressed pride in the investment, stating, “We are pleased to invest in MSA Novo, a global venture capital firm with a successful track record in scaling innovative startups. MSA’s dedication to the Jordanian ecosystem, reflected in their investment strategy and allocation for Jordan, will further boost capital flow to Jordanian startups.
“Our aim with this strategic investment is not only to provide essential equity funding but also to facilitate global market access for Jordanian startups through the expertise of an international venture player.”
Ben Harburg, Managing Partner at MSA Novo, acknowledged ISSF’s early support, stating, “ISSF was among the first regional sovereign investors to embrace MSA’s vision of bringing institutional investing to the Middle East. Through our collaboration, MSA has contributed significantly to job creation in Jordan.
“We are honored to once again earn the trust of this vital institution dedicated to Jordan’s technology and entrepreneurship ecosystem. We eagerly anticipate fulfilling our mission with our new fund.”
This strategic investment opens doors for Jordanian startups, offering crucial financing to expand and succeed in the global market. ISSF remains committed to fostering innovation, job creation, and economic growth in Jordan.
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