ISSF Elevates Investment in Oasis Ventures II to $5 Million

ISSF Elevates Investment in Oasis Ventures II to $5 Million

The Innovative Startups and SMEs Fund (ISSF), Jordan’s largest investment fund, has recently announced a significant increase in its investment in Oasis Ventures II (OVII). Specifically, ISSF has raised its commitment from $3 million to $5 million. This substantial move underscores ISSF’s strong belief in Oasis500’s impressive track record and its potential to further accelerate the success of startups within its portfolio.

ISSF’s Increased Investment: A Vote of Confidence

In detail, Mohammed Al Muhtaseb, CEO of ISSF, expressed his enthusiasm about the expanded investment. He stated, “Oasis500’s role in the MENA region’s early-stage investment scene is pivotal. Established in 2010 as the first accelerator, they helped ignite the Jordanian and MENA startup ecosystems.” Furthermore, he added, “Our increased commitment to OVII reflects our confidence in Oasis500’s success. By providing them with more firepower, we are doubling down on that success, so they can double down on the winners in their portfolio.”

Oasis500’s Track Record and Future Plans

Meanwhile, Luma Fawaz, CEO of Oasis500, highlighted the fruitful partnership between Oasis500 and ISSF. She noted, “Oasis500 and the ISSF share a vision that makes them excellent partners. Through this partnership, we have invested in and supported 36 startups, with 36% of those led by female founders. Our economic impact is significant, having created 300 direct and 1,000 indirect jobs. Notably, for every $1 we invested, we mobilized $5 for our portfolio startups. With the additional investment from ISSF, we will double down on some of our top performers.”

The Impact on the Startup Ecosystem

Consequently, this increased investment from ISSF is expected to bolster Oasis500’s ability to support high-potential startups in the MENA region. By enhancing their resources, Oasis500 will be well-positioned to further its impact, nurturing emerging businesses and fostering innovation across the region.

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