The Jordan Enterprise Development Fund (ISSF) has announced a $7 million investment into Endeavor’s fifth catalyst fund, a global vehicle exceeding $300 million. The move marks the beginning of the ISSF’s second operational phase and is designed to integrate Jordanian startups into the international investment ecosystem, giving them access to a wider pool of capital.
Quick Facts
- ISSF investment: $7 million.
- Target fund: Endeavor Catalyst Fund V.
- Fund size: Over $300 million.
A Strategic Push for Global Capital
The investment agreement, signed in Amman by ISSF CEO Mohammad Al-Muhtaseb and Endeavor Catalyst Managing Partner Allen Taylor, establishes a strategic channel to connect Jordanian startups with global venture capital. This partnership aims to fill critical funding gaps for promising local companies in their advanced growth stages as they look to expand regionally and internationally.
“This investment marks the launch of the fund’s second phase in Jordan after the success of the first,” said Al-Muhtaseb. He emphasized the ISSF’s commitment to building on its previous achievements, which earned top performance ratings from the World Bank, a key contributor to the fund. “This collaboration is a pivotal step that will help drive innovative Jordanian startups toward growth and expansion in international markets.”
Endeavor’s Deep Roots in Jordan
Endeavor, a leading global network supporting high-impact entrepreneurs, has a long history in Jordan. The country was its first entry into the Middle East and North Africa in 2009. This long-term presence underscores their belief in the local market’s potential.
“Our long-term partnerships in markets we believe in are more important than the timing of market cycles,” stated Taylor. “Since entering Jordan in 2009… we have remained committed through several investment cycles, which strengthens our belief that a sustained presence creates the strongest insights and investment opportunities.”
Endeavor Catalyst has previously backed several high-growth Jordanian companies, including Tamatem Games, Altibbi, Eon Dental, Tarjama, and ZenHR.
Backing Unicorns and Jordanian Talent
Endeavor Catalyst is the investment arm of the global Endeavor organization and has a track record of backing 74 unicorn companies. Its sector-agnostic strategy focuses on identifying promising opportunities in emerging markets worldwide.
A standout success in its portfolio is the AI and software development company Replit, co-founded by Jordanian entrepreneurs Amjad Masad and Haya Odeh. The company, now valued at approximately $9 billion, exemplifies the fund’s ability to identify and support high-impact, rapidly growing ventures with global potential.
About The Jordan Enterprise Development Fund (ISSF)
The Innovative Startups and SMEs Fund (ISSF) is a private sector-managed fund focused on fostering Jordan’s entrepreneurial ecosystem. It invests in innovative startups and early-stage SMEs, working to enhance the local environment for venture capital and support the growth of promising Jordanian companies.
Source: akhbarhayat
