Jordan’s Innovative Startups and SMEs Fund (ISSF) has invested $5 million in Middle East Venture Partners’ (MEVP) $150 million fund, MEVF IV. The investment, which was completed in February, aims to advance the Jordanian startup ecosystem and the national economy.

MEVP, a MENA-focused venture capital firm with over $300 million in assets under management (AUM), has a proven track record of scaling innovative startups and realizing returns for investors.

The ISSF is the largest investment fund in Jordan, and the investment underscores the commitment of the fund to support the country’s promising startups.

Through the partnership, MEVP aims to empower more Jordanian startups to disrupt the MENA region and beyond, while adhering to environmental, social, and governance (ESG) principles.

MEVP has previously invested in Jordanian companies, including Hyperpay and Al-tibbi. The investment also marks a strategic move for MEVP, which has established a branch office in Amman to bring a regional player closer to the Jordanian ecosystem. The investment is expected to provide equity capital and accelerate access to markets for Jordanian startups.