The Jordanian Venture Fund mobilised around $109 million in private capital during its first phase, exceeding its $71.5 million target, while 180 startups benefited from its direct and indirect financing, according to an independent review of the project.
The review rated the project’s overall performance as highly satisfactory, with the fund exceeding nearly all key output targets. Its focus was on expanding early-stage equity finance through accelerators, incubators and investment-readiness programmes.
A total of 83 companies received venture capital funding, while 712 benefited from business development and investment-readiness services. Women-led companies represented 26% of beneficiaries, and youth-led companies accounted for 43%.
The project also supported the creation of 2,624 full-time jobs for young Jordanians. Average wages for these roles were 3.5 times the national average. The number of fund managers operating in Jordan rose from five to 17, while 22 financial intermediaries joined the entrepreneurship ecosystem.
The World Bank’s $50 million contribution was fully disbursed, with the project’s actual cost reaching about $58.74 million. The fund continued making investment commitments after the project closed, with later disbursements reaching approximately $67 million, alongside additional commitments to investment funds.
Source: Alwakaai
