ISSF Increases Investment in Oasis500 to Boost Jordanian Startups

The Innovative Startups and SMEs Fund (ISSF) has announced an increased investment commitment to Oasis Ventures II (OVII), managed by Oasis500. This commitment has been raised from $3 million to $5 million, underscoring ISSF's dedication to fostering the growth of early-stage information and communication technology (ICT) companies in Jordan.

Founded in 2010, Oasis500 has established itself as a key player in the Jordanian and MENA region startup ecosystems. As the first accelerator in the region, it has specialized in providing pre-seed and seed funding to early-stage ICT companies. The accelerator's efforts have resulted in significant portfolio funding, with companies under its wing collectively securing $27 million in external financing.

The partnership between ISSF and Oasis500 has, to date, invested in 36 startups, with 36% of these companies being led by female founders. This collaboration has not only supported innovation but has also contributed to economic growth by creating 300 direct jobs and 1,000 indirect jobs.

Moreover, Oasis500's investments have demonstrated a strong multiplier effect. For every $1 invested by Oasis500, an additional $5 was mobilized for portfolio startups. The increased investment from ISSF aims to further support the growth and development of the most promising companies in the portfolio.