Amman: The Innovative Startups and SMEs Fund (ISSF) announced a significant $7 million investment in Endeavor Catalyst V, a $300 million co-investment fund designed to bolster high-growth, high-impact companies across more than 60 countries, with a focus on emerging markets.
According to Jordan News Agency, this partnership marks the beginning of the second phase of ISSF's investment initiatives within the Jordanian entrepreneurial landscape. This follows a successful first phase, which is set to conclude in 2025. During this period, the ISSF received the highest performance rating from the World Bank, its primary shareholder. The agreement was formalized by Mohammad Al-Muhtasib, CEO of ISSF, and Allen Taylor, Managing Partner of Endeavor Catalyst.
The collaboration is seen as a strategic move to connect Jordanian startups with international venture capital, ensuring a steady flow of funds to promising projects in the Kingdom. This initiative aims to address the funding gaps encountered by startups as they scale up for regional and global expansion.
Al-Muhtasib emphasized that the investment would enhance the Jordanian entrepreneurship ecosystem and further develop the venture capital landscape in the Kingdom. Taylor noted that the ISSF's investment in Endeavor Catalyst V aligns with a shared vision to empower high-impact companies in Jordan. He highlighted that long-term partnerships in promising markets are crucial, irrespective of market cycles. Endeavor's ongoing commitment to Jordan since 2009 underscores the belief that sustained presence leads to optimal investment opportunities and insights.
eavor focuses on capturing promising opportunities in global emerging markets without restricting itself to specific sectors. A notable success story is its investment in Replit, an artificial intelligence and software development firm founded by Jordanian entrepreneurs Amjad Masad and Haya Odeh. Replit's market valuation reached $9 billion, demonstrating the fund's capability to identify and support innovative ventures with global impact and rapid growth.