-The Innovative Startups and SMEs Fund (ISSF) in Jordan is investing $5 million in Global Ventures Fund III to support local entrepreneurs and young businesses.

-The $98 million Global Ventures Fund III, the largest investment fund of its kind in Jordan, has been tasked with investing in Jordanian startups.

-SMEs and startups, which make up about 98% of newly registered companies in Jordan, generate over 50% of the private sector GDP and create 60% of new employment opportunities, according to Noor Sweid, Managing Partner at Global Ventures.

The Innovative Startups and SMEs Fund (ISSF) in Jordan is investing $5 million in Global Ventures Fund III to bolster entrepreneurs and emerging businesses in the country.

According to a statement, the $98 million fund, the largest in Jordan, has tasked Global Ventures with investing in Jordanian startups.

Global Ventures, a UAE-based venture capital firm, focuses on growth-stage investments across the Middle East and Africa. The firm manages $300 million in assets and has invested in over 60 businesses across 10 markets.

“We are pleased to welcome Global Ventures Fund III into our portfolio of funds. They have shown strong commitment to the Jordanian ecosystem by investing in several Jordanian companies through previous funds,” said Mohammed Al Muhtaseb, CEO of ISSF.

Al Muhtaseb emphasized that the focus will be on strategic sectors addressing regional challenges while leveraging Jordanian talent and skills.

Noor Sweid, Managing Partner at Global Ventures, noted that approximately 98% of newly registered companies in Jordan are SMEs and startups, contributing over 50% of the private sector GDP and creating 60% of new employment opportunities.