ISSF Invests $2 Million in VentureSouq Fund II
The ISSF was co-founded in 2017 by the World Bank and the Central Bank of Jordan to provide direct or venture capital fund investments to assist Jordanian companies.
The Innovative Startups and SMEs Fund (ISSF), Jordan's largest investment fund, has announced a $2 million investment in VentureSouq Fund II. VentureSouq, a venture capital fund manager based in the MENA region, boasts a global portfolio with a focus on thematic funds, including FinTech.
As part of the agreement, VentureSouq will reinvest in Jordanian companies at a multiple of their initial investment.
The ISSF was co-founded in 2017 by the World Bank and the Central Bank of Jordan to provide direct or venture capital fund investments to assist Jordanian companies.
Also this year, the ISSF announced an increase in its investment in Propeller's second fund, Propeller Ventures II (PVII).
Propeller Ventures II is spearheaded by Propeller, a Jordanian venture capital firm specializing in software as a service (SaaS), enterprise software, and cloud infrastructure sector.