Jordan Daily - Jordan Capital and Investment Fund (JCIF) has launched Manara Ventures, a JOD 50 million technology scale-up fund aimed at supporting high-growth Jordanian startups.
The fund, backed by regional institutional investors including Abu Dhabi-based investment firm Lunate, was established in Abu Dhabi Global Market and structured as a Sharia-compliant investment platform, JCIF said in a press release seen by Jordan Daily.
“The launch of Manara Ventures marks an important milestone in JCIF’s strategy to expand into venture capital and innovation-led investments,” JCIF Chairman Hani Qadi said. He added that the initiative aligns with Jordan’s efforts to build “a knowledge-based, high-value economy driven by entrepreneurship, innovation and private-sector-led growth.”
Luma Fawaz, former chief executive of startup accelerator Oasis500, was appointed CEO of Manara Ventures. Fawaz previously oversaw more than 180 early-stage investments and worked with over 2,500 entrepreneurs across the region.
“I am honored to lead Manara Ventures at such an exciting moment for Jordan’s innovation ecosystem,” Fawaz said, adding that the fund aims to help startups “scale regionally and globally.”
Manara Ventures plans to invest in more than 20 Jordanian technology and technology-enabled companies, with investment tickets ranging from $750,000 to $3 million, including follow-on funding rounds. Additional capital has been allocated to support up to 15 companies pursuing regional expansion.
JCIF Chief Executive Faris Sharaf said the partnership with Lunate would help connect “Jordanian innovation and regional capital” while supporting companies seeking growth beyond local markets.
