Amman, June 13 (Petra) – The Innovative Startups and SMEs Fund (ISSF) announced on Saturday a $7 million investment in Endeavor Catalyst V, a $300 million co-investment fund aimed at emerging markets that supports high-growth, high-impact companies in more than 60 countries.
This milestone agreement serves as the kickoff for the second phase of the ISSF's investment activities in the Jordanian entrepreneurial ecosystem following a successful first phase, which extended until 2025 during which the fund received the highest performance rating from the World Bank, its main shareholder.
The partnership and investment agreement was inked by Mohammad Al-Muhtasib, CEO of ISSF, and Allen Taylor, Managing Partner of Endeavor Catalyst.
The parties called the partnership a strategic step aimed at connecting local startups with international venture capital sources. This will ensure a direct flow of funding to promising entrepreneurial projects in the Kingdom and bridge the funding gaps faced by startups in their advanced stages of growth as they seek regional and global expansion, they pointed out.
Al-Muhtasib said the investment will allow the fund to continue strengthening the Jordanian entrepreneurship ecosystem and developing the venture capital environment in the Kingdom.
For his part, Taylor commented that the ISSF investment in Endeavor Catalyst V is a true embodiment of a shared vision to empower high-impact companies in Jordan.
"Long-term partnerships in markets where we have a strong investment conviction are more important than the timing of market cycles," he said, adding that "since Endeavor entered Jordan in 2009 as its first market in the MENA region, we have been committed across several investment cycles, reinforcing our belief that a sustained presence creates the strongest investment opportunities and insights." Endeavor's strategy revolves around seizing promising opportunities in emerging markets globally, but not limited to a specific investment sector.
One of its key successes is its investment in Replit, an artificial intelligence and software development company founded by Jordanian entrepreneurs Amjad Masad and Haya Odeh. Replit reached a market valuation of $9 billion, reflecting the fund's ability to identify and support innovative entrepreneurial ventures with global impact and rapid growth.
//Petra//SS
