ISSF invests $5M in Middle East Venture Fund IV
The new fund will invest in companies with high growth potential such as those in ecommerce, healthtech, and edtech across the MENAP region.
Innovative Startups and SMEs Fund (ISSF)—a Jordan-based investment fund—has invested $5 million in the Middle East Venture Fund IV, a $150 million fund launched by Middle East Venture Partners (MEVP).
Mohammed Al Muhtaseb, CEO of ISSF, said, the partnership will help startups in Jordan to expand across the Middle East and bring in a strong source of private equity for their growth.
The newly-launched fund will invest in high-growth companies in ecommerce, edtech, and healthtech across MENA and Pakistan regions. The investment was completed in February.
The announcement comes after MEVF received a commitment of $27 million from the European Investment Bank, a press note by Wamda read.
Software development company Xebia acquires IT firm Netlink Digital Solutions
ISSF is a private fund that invests in startups and early-stage SMEs. In 2021, ISSF invested $1.5 million in UAE-based Global Ventures.
MEVF IV was launched on February 27, 2023, to cater to local tech startups and help them become mainstream regional and global players. MEVP is a regional MENA-focused venture capital firm and has more than $300 million in assets under management (AUMs).
For any press related queries or to share your press releases, write to us at
[email protected].
Edited by Suman Singh
