Jordan's ISSF Invests $3 Million in Antler Fund to Fuel MENAP Startup Growth
The Innovative Startups and SMEs Fund (ISSF) of Jordan has announced a USD 3 million investment into the Antler MENAP Fund, aimed at supporting early-stage technology startups across the Middle East, North Africa, and Pakistan region. This strategic investment highlights the growing focus on fostering innovation and attracting venture capital to the area.
Key Investment Details
The USD 3 million commitment from ISSF to the Antler MENAP Fund marks a significant boost for the region's venture landscape. Antler is known globally as a pre-seed venture builder and early-stage VC firm. This funding infusion is intended to empower Antler's operations in the MENAP region, focusing on identifying, building, and investing in promising new technology companies from the ground up.
Boosting the MENAP Ecosystem
This investment is set to play a crucial role in stimulating economic growth and job creation within the MENAP region. By backing Antler's efforts, the ISSF is directly contributing to the development of innovative startups, which are seen as key drivers of future economic prosperity.
Specifically for Jordan, where the ISSF is based, the partnership is expected to enhance the local startup ecosystem by attracting more international attention and capital. It aims to provide Jordanian founders with access to Antler's global network, expertise, and follow-on funding opportunities, helping them scale beyond local markets. The collaboration underscores the importance of both public and private sector funding in nurturing nascent tech ventures.
About Antler and ISSF
Antler is a global early-stage venture capital firm that runs residency programs to help entrepreneurs find co-founders and build companies, before investing in promising ventures. Their model focuses on building diverse portfolios of companies at the very earliest stages.
The Innovative Startups and SMEs Fund (ISSF) is a Jordanian investment fund established with support from the World Bank and the Central Bank of Jordan. Its primary mandate is to stimulate the Jordanian startup and SME ecosystem by making direct investments in promising ventures and indirect investments in venture capital funds that focus on Jordan and the broader region. The ISSF plays a critical role in bridging funding gaps and attracting foreign investment into the kingdom's tech sector.
Looking Ahead
The investment signals strong confidence in the potential of the MENAP region's tech talent and market opportunities. With this capital, Antler is better positioned to continue its venture building and investment activities, providing essential early-stage funding and support to founders across the region. The partnership between ISSF and Antler is expected to catalyze further investment and innovation, contributing to the maturation of the MENAP startup landscape.
Source: EnTarabi