JCIF Launches Jd50m Manara Ventures Fund To Boost Tech Innovation

(MENAFN- Jordan Times) AMMAN - The Jordan Capital and Investment Fund (JCIF) on Tuesday announced the official launch of Manara Ventures, an investment fund valued at JD50 million ($70.5 million) aimed at supporting high-potential Jordanian technology and innovation companies.

The fund, which is registered in Abu Dhabi Global Market as a fully Sharia-compliant investment platform, has secured backing from regional anchor investors, including Abu Dhabi-based Lunate, the Jordan News Agency, Petra reported.

Chairman Hani Qadi said the launch marks a key step in JCIF's strategy to expand its venture capital and innovation-driven investments, in line with Jordan's vision of building a knowledge-based economy led by entrepreneurship and private-sector growth.

Manara Ventures CEO Lama Fawaz said the fund will support outstanding founders and help them expand regionally and globally, while boosting innovation and accelerating the Kingdom's digital economy.

The fund plans to invest in more than 20 Jordanian technology or tech-enabled companies in the growth stage, while allocating additional capital to support up to 15 high-performing firms pursuing regional expansion. Investments are expected to range between $750,000 and $3 million.

JCIF CEO Fares Sharaf said the partnership with Lunate aims to connect Jordanian innovation with regional capital and support the growth of companies capable of competing beyond local markets, Petra reported.

JCIF, which has capital exceeding JD275 million ($388 million), is the Kingdom's largest private-sector investment fund and is owned by 16 Jordanian banks.

MENAFN19052026000028011005ID1111139871