ISSF Increases Investment in Oasis Ventures II to $5 Million

The Innovative Startups and SMEs Fund (ISSF), Jordan’s largest investment fund of its kind, has announced an increased commitment to the Oasis Ventures II (OVII) fund, managed by Oasis500, from $3 million to $5 million. This strategic boost aims to empower early-stage ICT companies in Jordan, enhancing their growth potential through pre-seed and seed funding.

Oasis500 has played a crucial role in the MENA region’s early-stage investment landscape since its inception in 2010. The accelerator has significantly contributed to the Jordanian and regional startup ecosystems, helping its portfolio companies secure an impressive $27 million in external financing to date.

“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,” stated Mohammed Al Muhtaseb, CEO of ISSF. “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.”

Luma Fawaz, CEO of Oasis500, expressed enthusiasm about the enhanced partnership: “Oasis500 and the ISSF share a vision that makes them excellent partners. Through this partnership, we have invested in and supported 36 startups, 36% of which are 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 additional investment will enable Oasis500 to further support its top-performing startups, amplifying their impact and success in the market.