The Innovative Startups and SMEs Fund (ISSF), Jordan’s largest investment fund, has increased its commitment to Oasis Ventures II (OVII) from $3 million to $5 million.
ISSF believes this investment reflects its deep confidence in Oasis500‘s impressive track record and provides them with additional resources to double down on the success of the startups within its portfolio.
Mohammed Al Muhtaseb, CEO of ISSF, stated: “Oasis500’s role in the MENA region’s early-stage investment scene is pivotal. Established in 2010 as the first accelerator, they helped ignite the Jordanian and MENA startup ecosystems.”
He added, “Our increased commitment to OVII reflects our confidence in Oasis500’s success. By providing them with more firepower, we are doubling down on that success, so they can double down on the winners in their portfolio.”
Luma Fawaz, CEO of Oasis500, added, “Oasis500 and the ISSF share a vision that makes them excellent partners. Through this partnership, we have invested in and supported 36 startups, 36% of which are led by female founders. Our economic impact is significant, having created 300 direct and 1,000 indirect jobs. Notably, for every $1 we invested, we mobilised $5 for our portfolio startups. With the additional investment from ISSF, we will double down on some of our top performers.”
