Jordan Capital Investment Fund Launches US$70.5 Million Manara Ventures Fund To Support Local Tech Startups
The fund plans to invest in more than 20 growth-stage Jordanian technology and technology-enabled companies, with investments ranging between $750,000 and $3 million, including follow-on rounds.
Jordan Capital and Investment Fund (JCIF) has announced the launch of Manara Ventures, a JOD50 million (US$70.5 million) scaleup fund focused on supporting the growth of Jordanian technology and technology-driven companies. The fund was established in Abu Dhabi Global Market (ADGM) as a fully Sharia-compliant investment platform, and has secured backing from regional institutional investors, including Abu Dhabi-based investment firm Lunate.
Manara Ventures plans to invest in more than 20 growth-stage Jordanian technology and technology-enabled companies, with investments ranging between $750,000 and $3 million, including follow-on rounds. Additional capital has also been reserved to support up to 15 high-performing startups pursuing regional expansion opportunities.
In a statement, JCIF Chairman Hani Qadi said, “The launch of Manara Ventures marks an important milestone in JCIF’s strategy to expand into venture capital and innovation-led investments. This initiative is fully aligned with Jordan’s vision of building a knowledge-based, high-value economy driven by entrepreneurship, innovation, and private-sector-led growth. We believe Jordan has exceptional entrepreneurial talent, and Manara Ventures will help provide the capital and institutional support needed for these companies to scale.”
Manara Ventures has appointed Luma Fawaz as its CEO, with him bringing more than two decades of experience in startup acceleration and venture ecosystem development to the fund. Fawaz previously served as CEO of the Jordan-based startup accelerator Oasis500, where she oversaw more than 180 early-stage investments and supported over 2,500 entrepreneurs across the region.
“I am honored to lead Manara Ventures at such an exciting moment for Jordan’s innovation ecosystem,” Fawaz said. “Our ambition is to back exceptional founders and help them scale regionally and globally. Beyond delivering strong financial returns, the fund seeks to catalyze technological advancement, foster innovation, and deepen regional collaboration across the broader startup ecosystem.”
Through its investments in local technology companies, Manara Ventures aims to support the growth of Jordan’s digital economy, back entrepreneurs, and strengthen the country's position as a regional hub for technology and innovation.
Pictured in the lead image is the team behind Manara Ventures. Image courtesy Jordan Capital and Investment Fund.
