The Jordan Innovative Startups and SMEs Fund Invests $5 Million in MSA Novo
The Jordan Innovative Startups and SMEs Fund (ISSF), in a significant move to bolster the startup ecosystem, has announced a $5 million investment in the MSA Novo Fund. Managed by MSA Capital, this fund aims to stimulate growth in emerging markets by supporting innovative companies, boasting extensive global investment experience with its headquarters in China.
Mohammad Al-Muhtaseb, the Chief Executive Officer of the ISSF, underscored the importance of this partnership with MSA Novo for the entrepreneurial ecosystem in Jordan, noting that this investment represents significant support for Jordanian startups, providing them with the necessary resources for expansion and growth. Al-Muhtaseb praised MSA’s belief in Jordan’s entrepreneurial capabilities and its commitment to investing in the country.
From his side, Ben Harburg, the Managing Partner of MSA Novo, expressed his pleasure in receiving support from the ISSF for MSA’s vision of attracting global investments to the Middle East, which would contribute to job creation and economic growth in Jordan. Harburg emphasized the significance of the trust placed by the ISSF in MSA Novo and its active role in enhancing Jordan’s entrepreneurial environment.
This investment presents a significant opportunity for Jordanian startups, enabling them to secure the necessary funding for success and expansion not only in local markets but also globally. Through this step, the ISSF demonstrates its commitment to supporting innovation, creating new job opportunities, and contributing to economic growth in Jordan.
Established in 2017 with a capital of $98 million, the ISSF aims to transform the entrepreneurial and innovation landscape in Jordan radically. It is co-funded by the Central Bank of Jordan and the World Bank, with a special focus on supporting Jordanian startups, and small, and medium-sized enterprises in their early stages.
MSA Novo, on its part, is among the prominent global investment firms focusing on emerging markets, with investments in various regions such as the Middle East, Africa, Latin America, and South Asia. Managed by MSA Capital, a leading venture capital firm based in China, it highlights extensive expertise and success in managing investments exceeding $2 billion.
