The Innovative Start-ups and SMEs Fund (ISSF), which claims to be the largest fund of its type in Jordan, has made a US$1 million investment in Access Bridge Ventures (ABV), a UAE-based venture capital (VC) fund that targets early stage companies based in the Mena region.
The ISSF was set up as a private shareholding company with the objective of promoting Jordan’s entrepreneurial landscape.
ABV is affiliated to private equity firm CedarBridge Capital Partners and describes itself as a “first institutional investor” for its portfolio companies.
“The regional fund will effectively outreach and support Jordanian early-stage startups to become leaders within their respective fields, thereby actively contributing towards the national economy and supplying talents, solutions and innovations that keep pace with today’s tech-driven era,” said Laith Al Qasem, chief executive at ISSF.
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