ISSF Calls For 'Smarter' Sovereign Capital To Catalyse Venture Investment At MEVCA Summit

(MENAFN- Jordan Times) AMMAN - The Innovative Start ups and SMEs Fund (ISSF) on Thursday, participated in the Investors Summit organised by the Middle East Venture Capital Association (MEVCA) at the Abu Dhabi Global Market (ADGM), according to an ISSF statement.

ISSF CEO Mohammed Muhtaseb highlighted the pivotal role of sovereign funds as primary engines for the innovation economy and effective catalysts for entrepreneurship ecosystems, the Jordan News Agency, Petra, reported.

Addressing the summit, a premier annual gathering for funds and investors in the Middle East and North Africa (MENA) region, Muhtaseb noted that amidst rapid global and regional economic shifts, it is essential to redefine the roles of sovereign funds through "smarter capital engineering".

He argued that these funds should evolve beyond traditional investment tools governed by a "grant-based" mentality, transforming instead into enablers for the entrepreneurship and innovation economy in Jordan and the wider region, driven by feasibility and sustainability.

Muhtaseb presented a vision to shift sovereign investment funds from symbolic investing to becoming a "driving and catalytic force" capable of mobilising venture capital through profitable, sustainable investments that circulate within the economy over the long term.

He stressed that the objective is not merely to inject capital or increase the number of beneficiary companies regardless of economic viability, but to build an integrated investment ecosystem that leads the MENA innovation economy on foundations of financial sustainability.

The CEO further explained that the ISSF's current investment strategy balances achieving financial returns for continuity with maximising economic impact.

He affirmed that investment yield and economic development are complementary objectives, rather than conflicting ones, within the fund's policy.

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