Amman, May 19 (Petra) -- The Jordan Capital and Investment Fund (JCIF) on Tuesday announced the official launch of "Manara Ventures", a JD50 million (approximately $70.5 million) investment fund dedicated to supporting the growth of promising Jordanian companies in technology and innovation.
The newly established fund is registered in the Abu Dhabi Global Market (ADGM) as a fully Sharia-compliant investment platform. It has secured backing from regional institutional investors, including Abu Dhabi-based global investment manager Lunate.
Hani Al-Qadi, JCIF Chairman, stated that the launch of Manara Ventures represents a major milestone within the fund’s strategy to expand into venture capital and innovation-driven investments. He noted that the initiative aligns with Jordan’s vision to build a high-value-added, knowledge-based economy driven by entrepreneurship, innovation, and private sector growth.
Al-Qadi added that Jordan possesses exceptional entrepreneurial talent, and Manara Ventures will help provide the necessary capital and institutional backing to enable these companies to scale.
Luma Fawaz, Chief Executive Officer of Manara Ventures, explained that the fund will support outstanding founders and assist them in expanding regionally and globally. It aims to generate strong financial returns, accelerate the growth of Jordan's digital economy, and solidify the Kingdom's position as a regional hub for technology.
Fawaz indicated that the fund will target tech-focused or tech-enabled Jordanian companies with high growth potential. It plans to invest in more than 20 growth-stage companies while allocating additional follow-on capital to support up to 15 high-performing businesses pursuing regional expansion. Individual investments are expected to range between 750,000 and 3 million US dollars, including subsequent funding rounds.
Faris Sharaf, JCIF Chief Executive Officer, commented that Manara Ventures embodies a shared commitment to unlocking the potential of Jordanian entrepreneurs. He emphasized that the partnership with Lunate builds a strong bridge connecting Jordanian innovation with regional capital, helping establish companies capable of competing beyond their domestic market.
The JCIF stands as the largest private-sector investment fund in Jordan, boasting a capital exceeding JD275 million (approximately $388 million). Owned by 16 Jordanian banks, the fund invests in high-potential companies within strategic sectors of the national economy by providing growth capital and institutional support to foster sustainable economic expansion and job creation //Petra// AF
