Thursday July 18th, 2024
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Jordan’s ISSF Commits $1.5M to Saudi-Based Sadu Capital’s VC Fund

The fund will empower technology startups and SMEs across the MENA region including in Jordan, Egypt, Saudi Arabia and the UAE.

Startup Scene

Jordan’s Innovative Startups and SMEs Fund (ISSF) announced an investment of $1.5 million in an early-stage fund by Saudi-based VC firm Sadu Capital, which will be focused on empowering technology startups and SMEs across the MENA region including in Jordan, Egypt, Saudi Arabia and the UAE.

The ISSF investment in Sadu Capital will accelerate Jordanian access to Saudi and GCC markets, and offer greater finance opportunities to noteworthy startups. Sadu Capital’s fund focuses on early-stage investment across various sectors, with a particular emphasis on B2B companies.

"Jordan has played a pivotal role in the MENA entrepreneurial ecosystem as the producer of transformative startups and top talents,” says Quasi A. Al-Saif, Managing Director and CEO of Sadu Capital. “Partnering with ISSF, we aim to scale up promising startups to become regional champions.”

The Sadu Capital and ISSF partnership hopes to enable greater innovation and facilitate job creation, contributing to the economic diversity and sustainability goals of the region. In 2022, Jordan launched a ‘New Vision for Economic Modernization’ to target growth and opportunities over the next 10 years.

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