MSA Capital and ISSF commit to launching venture fund to strengthen Jordanian ecosystem
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The ISSF has selected MSA due to its robust track record, broad experience, and unique capabilities, as well as its global access and deep roots in China and the East. Access to MSA’s characteristics and capabilities will help the ISSF develop a competitive and globally aware entrepreneurial ecosystem in Jordan.
MSA has already made several investments in companies operating in Jordan, most notably Fordeal, which employs over 200 people in the Kingdom. Over the last 18 months, MSA has participated in 25 funding rounds for 19 companies, in addition to bringing several existing MSA portfolio companies to the region.
Beyond simply investing in regional startups, MSA also actively builds regional JVs with global companies. It intends to further expand its investment and ecosystem footprint in the Kingdom via direct investments in Jordanian companies and building or rooting startups in the country that will then target adjacent markets. MSA will continue a concentration on healthcare, mobility, logistics, and financial services in Jordan.
Ben Harburg, Managing Partner at MSA commented, “We are deeply honored to be trusted as custodians of the precious resources of the Kingdom of Jordan. High-caliber entrepreneurial and engineering talent in Jordan provides critical infrastructure to sustain companies addressing large financial opportunities across the MENA region. MSA is proud to partner with the ISSF and expands our ongoing efforts to fund and build sustainable Jordanian companies that leverage technology to scale pan regionally to address critical enterprise and consumer pain points."
Laith Al Qasem, CEO of the ISSF stated, “One of the main objectives of the ISSF is to mobilize the availability of capital for Jordanian startups by strengthening cooperation between local and global ecosystems. I am very pleased to announce our joint commitment and investment with MSA, which will make the international experience available to Jordanian entrepreneurs, whilst facilitating market access to the East.”
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