An investment in the MSA Novo MENA-focused fund has been announced by the Innovative Startups and SMEs Fund (ISSF). The venture fund with an emphasis on emerging markets, MSA Novo, is a part of MSA Capital, a global multi-stage investment firm. This investment demonstrates the ISSF’s dedication to supporting promising Jordanian startups in their efforts to improve both the local business environment and the country’s overall economy.
Mohammed al Muhtaseb, CEO of ISSF, said, “We are very proud of our investment in MSA Novo, a global VC with a successful track record of scaling innovative startups. MSA has demonstrated a strong commitment to the Jordanian ecosystem, evident in both their investment thesis and their investment allocation for Jordan, which mobilizes additional capital for Jordanian startups, thereby amplifying the ISSF’s investment. Through this strategic investment, our objective is not just to infuse vital equity capital but also to effectively open doors for Jordanian startups, providing them with accelerated access to global markets through the expertise of a key international player in the venture space.”
Ben Harburg, MSA Novo Managing Partner, commented, “ISSF was one of the first regional sovereign investors to support MSA’s vision of bringing global institutional investing to the Middle East venture space. In the process, MSA generated hundreds of jobs in Jordan. We are honored to again receive the trust of this critical institution tasked with the development of the Jordanian technology and entrepreneurship ecosystem, and we look forward to robustly executing this mission in our new fund.”
For Jordanian startups, this strategic investment opens up new doors and provides the funding they require to grow and prosper in the cutthroat international market. The ISSF is still committed to promoting innovation, generating employment, and advancing Jordan’s economy.
