Jordan Capital and Investment Fund (JCIF) has launched Manara Ventures, a JOD 50 million (approximately $70.5 million) fund dedicated to scaling up Jordan’s most promising technology companies. The fund is designed to address a critical gap in the local ecosystem by providing growth-stage capital to startups ready for regional expansion.
Quick Facts
- Fund Size: JOD 50 million ($70.5 million)
- Target: Over 20 growth-stage Jordanian startups
- Cheque Size: $750,000 to $3 million
A Direct Answer to Jordan’s Scale-Up Challenge
While Jordan has a strong reputation for producing skilled founders and technical talent, startups have historically faced hurdles in securing later-stage funding to scale beyond the local market. Manara Ventures targets this specific bottleneck, aiming to provide the necessary capital and institutional support for companies to grow into regional players.
The fund will invest in technology and tech-enabled companies, with additional capital reserved to back up to 15 of its highest-performing portfolio companies as they expand across the Middle East.
“The launch of Manara Ventures marks an important milestone in JCIF’s strategy to expand into venture capital and innovation-led investments,” said Hani Qadi, JCIF Chairman. “We believe Jordan has exceptional entrepreneurial talent, and Manara Ventures will help provide the capital and institutional support needed for these companies to scale.”
Seasoned Leadership and Strategic Gulf Backing
Manara Ventures will be led by newly appointed CEO Luma Fawaz, a well-known figure in Jordan’s startup scene with over two decades of experience. Prior to this role, Fawaz was the CEO of Oasis500, where she managed more than 180 early-stage investments.
“I am honored to lead Manara Ventures at such an exciting moment for Jordan’s innovation ecosystem,” said Luma Fawaz. “Our ambition is to back exceptional founders and help them scale regionally and globally. Beyond delivering strong financial returns, the fund seeks to catalyse technological advancement, foster innovation and deepen regional collaboration.”
The fund has secured commitments from regional institutional investors, most notably the Abu Dhabi-based global investment firm Lunate. Manara Ventures was established in Abu Dhabi Global Market (ADGM) and is structured as a fully Sharia-compliant platform, signaling a strong institutional framework from its inception.
A Cross-Border Investment Play
The partnership with Lunate and the ADGM registration highlight a growing integration between Gulf capital and the Levant’s startup ecosystems. This structure creates a solid bridge for Jordanian innovation to access regional financial markets and for Gulf investors to deploy capital into Jordan through a structured vehicle.
“Through our partnership with Lunate, we are creating a strong bridge between Jordanian innovation and regional capital while building companies capable of competing and expanding beyond local markets,” said Faris Sharaf, JCIF CEO.
This move is expected to strengthen funding pipelines for Jordanian companies, potentially reducing the need for founders to relocate their operations to secure regional expansion capital.
About Manara Ventures
Manara Ventures is a $70.5 million scale-up fund launched by the Jordan Capital and Investment Fund (JCIF). Based in Abu Dhabi Global Market (ADGM), the Sharia-compliant fund focuses on investing in Jordan’s growth-stage technology and innovation-driven companies to help them expand regionally and globally.
Source: Wamda
