Amman: Jordan’s ISSF (Innovative Startups and SMEs Fund) has announced its investment in Shorooq Partners’ Bedaya Fund, a leading seed and early-stage VC in the Middle East.
Shorooq invests primarily in the Seed and early-stage across fintech, software, and platform startups in the GCC, Egypt, and Jordan
“ISSF supports the innovative and entrepreneurial spirit of Jordan. Our activities contribute to creating a competitive economy and job creation at a fundamental level. This partnership is a testament to both Shorooq’s and ISSF’s commitment to Jordan and our mission of creating positive economic and social impact.” said Laith Al-Qassem, CEO of ISSF. “ISSF is confident of its partnership with Shorooq as more than 45% of Shorooq’s first investments were made to support pre-revenue startups and they embody the founder-centric principle, which is essential for the Jordanian startup ecosystem to thrive.”
Shorooq Partners main focus is on early-stage startups due to the strong belief that there is a massive gap where many promising startups are coming out of incubator and accelerator programs, yet there are no sophisticated, institutional VCs to lead the Seed stage investments and help them get to the Series A, which they believe are relatively crowded. The VC desires to fill this massive and significant gap that leaves the founders helpless and work closely and operationally with them as their Partners and Company Builders to become the leading Seed and early-stage VC in the region.