Innovative Startups and SME’s Fund (ISSF)

What Innovative Startups and SME’s Fund (ISSF) does

The Innovative Startups and SMEs Fund (ISSF) is a Jordanian private shareholding company and development-finance fund-of-funds established in 2017 with a $98 million corpus — $48 million from the Central Bank of Jordan and $50 million from the World Bank — making it the largest investment vehicle of its kind in the country. Officially launched in Amman in September 2018 under CEO Mohammed Al Muhtaseb (succeeding Laith Al-Qasem), ISSF invests across three vehicles: direct equity tickets of $150,000–$250,000 into early-stage Jordanian startups (Abjjad, Decapolis, NEXT Renewable Energy, Mecal, Trteeb, Solfeh, Martix, Silkroad Images), fund-of-funds LP commitments into regional and global VC managers (Antler MENAP, Vision Ventures/Saqr II, Global Ventures III, Rua Growth I, VentureSouq, Propeller, Oasis500/OVII, Arzan, MSA Capital, Access Bridge, Endeavor Catalyst V, Anara Impact), and an Incubator and Accelerator Development Program (IADP) that channels grants to ecosystem builders such as Oasis500, CORE@HTU, and iPARK@Aqaba alongside the JoPACC-co-developed JOIN FinTech Launchpad. Strategy targets 200 investee companies and capacity-building for 600+ entrepreneurs, with stated outcomes of ~$27M mobilized at Oasis500, ~$14M raised by CORE@HTU startups, and 300+ jobs created.

ISSF's go-to-market combines LP-level diligence against fund managers with direct entrepreneur engagement through innovation campuses (ZINC), accelerators, and ecosystem panels. Revenue mechanics are not conventional product sales; the entity deploys capital and captures returns through fund distributions and direct equity appreciation, with optional, undisclosed management economics. The Deal Flow Marketplace Platform under procurement and the EEDP capacity-building program point toward digital infrastructure and training layers on top of capital deployment. Customer concentration is low by counterparty count (10+ GPs, 10+ direct startups across fintech, renewable energy, e-commerce, publishing, digital content, food tech) but high by geography, as all investees must be Jordan-anchored to qualify under the fund's mandate.

Name

Innovative Startups and SME’s Fund (ISSF)

Legal name

Innovative Startups and SMEs Fund

Website

https://issfjo.com/

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1–10 employees

Short description

The Innovative Startups and SMEs Fund (ISSF) is a Jordanian $98 million development-finance fund-of-funds that invests as LP in regional VC funds, makes direct equity investments of $150K–$250K in early-stage Jordanian startups, and supports incubators/accelerators through its IADP program.

Ownership category

akta.pro rank

Product category

Venture Capital Fund Management

NAICS

Other Investment Pools and Funds (5259), Portfolio Management and Investment Advice (52394), All Other Financial Investment Activities (52399)

SIC

Investment Advice (6282)

akta.pro primary industry

Venture Capital Fund-of-Funds (FSANAGAC)

Keywords

• Venture capital fund
• Fund of funds
• Direct equity investment
• Startup ecosystem development
• Early-stage financing

Headquarters

HQ city

Amman

HQ country

Jordan

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Fund of Funds Returns: ISSF invests as LP in venture capital funds across MENA and globally, with mandates to reinvest in Jordanian startups, generating returns through fund distributions and equity appreciation.
2. Direct Equity Investments: Direct equity investments in early-stage Jordanian startups in technology, fintech, renewable energy, and other sectors. Investments range from USD 150,000 to USD 200,000 in direct investments.
3. Incubator and Accelerator Support: Funding and capacity building support to incubators and accelerators through IADP, supporting deal flow creation for the ecosystem.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

ISSF is Jordan's largest startup and SME investment fund, capitalized at USD 98 million through a partnership between the Central Bank of Jordan (USD 48 million) and the World Bank (USD 50 million). It deploys capital through two primary mechanisms: as a Limited Partner (LP) in regional and global venture capital funds with reinvestment mandates in Jordanian companies, and through direct equity investments in early-stage Jordanian startups and SMEs, typically ranging from USD 150,000 to USD 250,000 per investment.

Product overview

ISSF operates as a USD 98 million venture capital fund-of-funds that supports Jordan's entrepreneurial ecosystem through multiple investment vehicles and support programs. The core offerings include a Fund of Funds program that makes LP commitments to regional and global VC funds (such as Antler MENAP, Vision Ventures, Global Ventures, VentureSouq, Propeller, and others), Direct Investment programs that provide equity financing to early-stage Jordanian startups, Deal Flow Creation initiatives, and an Incubator/Accelerator Development Program (IADP). The ISSF also supports the JOIN FinTech Launchpad in partnership with JoPACC. ISSF functions as a strategic enabler rather than a technology product company.

Differentiator

Problem solved

Functional benefit

Products and services

• Direct Investment Program
• Fund of Funds
• Deal Flow Creation
• Incubator and Accelerator Development Program (IADP)
• JOIN FinTech Launchpad

Quantifiable outcome

• 200 companies expected to receive investment
• +3 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and minor.

• JOIN FinTech LaunchpadcoreStrategic or Co-development Partner · 27 April 2025ISSF and JoPACC collaborated on the JOIN FinTech Launchpad program which supported 13 fintech startups. Sponsoring banks included Jordan Kuwait Bank, Housing Bank for Trade and Finance, Jordan Islamic Bank, and Capital Bank.
• Jordan Payments and Clearing Company (JoPACC)coreStrategic or Co-development Partner · 12 January 2025ISSF partnered with JoPACC to launch an incubation program supporting fintech startups at pre and post MVP stages. The program is delivered by JOIN Fincubator and focuses on legal, technology, market testing, business financials, and go-to-market strategies.
• CORE@HTUcoreStrategic or Co-development Partner · 21 May 2024ISSF supported CORE@HTU (Center for Innovation & Entrepreneurial Excellence at Al Hussein Technical University), which nurtured 62 startups over three years, with 45 completing the program and securing approximately $14 million in funding.
• iPARK@Aqaba Entrepreneurship ProgramminorStrategic or Co-development Partner · 20 October 2021ISSF granted USD 250,000 to iPARK@Aqaba, the first business incubator in Aqaba, targeting tourism, logistics, entertainment and services sectors. Expected to support 98 ideas/startups and generate 250 jobs.
• Oasis500coreStrategic or Co-development Partner · 1 March 2021ISSF extended USD 250,000 to Oasis500 to accelerate 16 startups in four cohorts via IADP. Oasis500 is the first accelerator in MENA, established in 2010.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• International Finance Corporation (IFC): World Bank Group's private-sector arm and a major development finance VC/LP investor in emerging markets. Comparable to ISSF as a sister institution of the World Bank deploying institutional capital into VC funds and direct investments across frontier and emerging markets, including MENA.
• KfW Development Bank: German state-owned development bank and a major anchor LP in emerging-market VC funds, including the recently-launched Anara Impact Capital where it co-invested with ISSF. Comparable to ISSF as a multilateral/development capital provider backing MENA VC fund managers.

Direct peers

• Sanabil Investments: Saudi Arabia's Public Investment Fund-owned investment vehicle that makes LP commitments to global and regional VC funds and direct venture investments. Comparable to ISSF as a sovereign-backed VC fund-of-funds and direct investor in emerging-market VC ecosystems.
• Saudi Venture Capital (SVC): Government-backed VC fund manager in Saudi Arabia that invests as LP in regional VC funds and supports Saudi startups. Comparable to ISSF as a public-mandate VC fund-of-funds operating in a MENA market with development objectives alongside financial returns.
• Antler: Global early-stage VC firm operating a Day Zero / pre-seed model across 27 cities and running the MENA-focused Antler MENAP Fund LP in which ISSF committed USD 3 million. Comparable to ISSF as an early-stage VC ecosystem builder and FoF partner targeting the same MENA founder pipeline.
• Vision Ventures: Saudi Arabia-based early-stage VC firm managing Saqr Fund II, in which ISSF invested USD 5 million with a Jordanian reinvestment mandate. Comparable to ISSF as a regional VC manager that ISSF backs and channels capital into Jordanian startups.
• Global Ventures: MENA/Africa-focused growth-stage VC firm with USD 300M AUM (Fund III), in which ISSF committed USD 5 million with a Jordanian reinvestment mandate. Comparable to ISSF as a portfolio LP-partnered regional VC manager investing into Jordanian startups.
• Propeller Ventures: Jordanian VC firm specializing in SaaS, enterprise software, and cloud infrastructure, managing Propeller Ventures II in which ISSF holds a USD 5M LP commitment. Comparable to ISSF as a domestic Jordanian VC partner in ISSF's fund-of-funds portfolio.
• Oasis500: Jordan's first and largest startup accelerator (established 2010), receiving direct funding from ISSF via IADP and also operating Oasis Ventures II (OVII) in which ISSF holds a USD 5M LP stake. Comparable to ISSF as a Jordan-domiciled startup ecosystem builder supported by ISSF capital.
• VentureSouq: MENA-based VC fund manager with thematic funds including Fintech Fund II, in which ISSF invested USD 2 million and later backed the second FinTech Fund. Comparable to ISSF as a regional VC manager that ISSF backs and which has a Jordanian reinvestment mandate.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/issfjo
• YouTubeyoutube.com/channel/UCkc6qE1Fzgv0X9xT4iHxlaw
• Facebookfacebook.com/issfjo
• LinkedInlinkedin.com/company/issf
• Instagraminstagram.com/issfjo

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments16 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Innovative Startups and SME’s Fund (ISSF)