Jordan’s ISSF Invests in MSA Novo to Boost Local Startups
Jordan’s Innovative Startups and SMEs Fund (ISSF) has invested $5 million in MSA Novo, a MENA-focused fund operated by MSA Capital, a global investment firm, to back Jordanian startups and bolster the national economy.
MSA Novo, established in 2019, operates as a venture capital firm with a focus on emerging technology markets across regions like the Middle East, Latin America, Africa, and South Asia and has over 50 companies in its portfolio.
The ISSF, established in 2017 by the World Bank and the Central Bank of Jordan, aims to support local startups through direct investments or venture capital fund allocations.
By investing in MSA Novo, ISSF facilitates access to global markets for Jordanian startups.
In addition, the ISSF’s mission is to champion innovation, drive job creation, and contribute to Jordan’s economic growth.
This article was posted on Inc. Arabia ENNews Related