- The Innovative Startups and SMEs Fund (ISSF) has invested $1 million Kuwait-based Arzan Venture Capital II.
Founded in 2014, Arzan is targeting the investment in tech startups across Jordan up to the Series A funding round
The investment, made in January 2021, will be used to advance the Jordanian entrepreneurial ecosystem and empower promising entrepreneurs.
Arzan Venture Capital has already invested in eight Jordanian startups, in addition to four startups founded by Jordanian entrepreneurs located outside the kingdom.
The Innovative Startups and SMEs Fund (ISSF), has invested $1 million in Arzan Venture Capital II; an investment fund headquartered in Kuwait. The investment, which was made in January 2021, emphasises the commitment of the ISSF towards supporting youth-led startups and SMEs during their early stages.
The investment in Arzan Venture Capital II - which in turn invests in tech startups across the Kingdom up to the Series A funding round - aims at advancing the Jordanian entrepreneurial ecosystem and empowering promising local female and male entrepreneurs.
ISSF CEO, Laith Al Qasem mentioned “We are very pleased with this notable investment, which will present several aspiring tech startups with the opportunity to grow their businesses, hence consequently generating new jobs and further strengthening Jordan’s standing as a regional hub for entrepreneurship and innovation. At the ISSF, we continuously strive to invest in prominent regional and global funds so as to provide Jordanian entrepreneurs with the funding, skills, tools and training they need, to ultimately grant them the confidence and aptitude to build their futures and create better lives for others.”
Arzan Venture Capital Partner, Laith Zraikat stated, “Arzan Venture Capital is considered one of the most active funds in Jordan, investing in eight Jordanian companies, in addition to four others outside the Kingdom led by Jordanian entrepreneurs. Today, we plan on doubling down on the Jordanian ecosystem. As such, this ISSF investment has come at the perfect time, in line with the growing number of startups and entrepreneurial projects, the increased demand for establishing a digital economy and the need to create new job opportunities amidst the dynamic transformation the world at large and the region in specific are witnessing on various fronts."