JCIF Launches Manara Ventures with $70.5M Growth Fund for Jordanian Tech Startups

Why It Matters

Manara Ventures fills a critical late‑stage financing gap, enabling Jordanian innovators to scale and attract Gulf capital, which could boost the country’s digital economy and job creation.

Key Takeaways

• Manara Ventures raises $70.5M to fund Jordanian tech scale‑ups
• Targeting 20+ growth‑stage companies with $750K‑$3M checks
• Sharia‑compliant structure attracts regional institutional investors
• CEO Luma Fawaz brings two decades of startup acceleration experience
• Fund reserves capital for 15 startups expanding regionally

Pulse Analysis

Jordan’s technology sector has long struggled to secure late‑stage financing, a gap that threatens the scaling of promising home‑grown ventures. The launch of Manara Ventures directly addresses this shortfall by providing a dedicated growth‑capital pool for companies that have moved beyond seed funding but still need substantial resources to expand. With the Jordanian government’s ambition to transition to a knowledge‑based economy, the fund aligns with national policy and offers entrepreneurs a credible path to commercialisation and regional market entry.

Manara Ventures is capitalised at JOD 50 million, roughly US $70.5 million, and will deploy investments ranging from $750,000 to $3 million per company. The fund’s Sharia‑compliant structure, established in the Abu Dhabi Global Market, makes it attractive to regional institutional investors such as Abu Dhabi‑based Lunate, which has already pledged a significant portion of the capital. By reserving additional resources for up to 15 high‑performing startups pursuing cross‑border expansion, the vehicle not only provides primary growth financing but also positions itself as a bridge between Jordanian innovators and the broader Gulf capital ecosystem.

The fund’s focus on technology‑enabled businesses is expected to accelerate Jordan’s digital economy, fostering sectors such as fintech, health‑tech, and e‑commerce. By backing more than 20 growth‑stage firms and reserving capital for regional roll‑outs, Manara Ventures could generate a multiplier effect, attracting further private‑sector investment and creating high‑skill jobs. For investors, the combination of modest ticket sizes, Sharia compliance, and a clear exit pathway through regional M&A or public listings offers an appealing risk‑adjusted return profile, while reinforcing Jordan’s reputation as a burgeoning hub for innovation in the Middle East.

Deal Summary

Jordan Capital and Investment Fund (JCIF) announced the launch of Manara Ventures, a JOD 50 million ($70.5 million) growth-stage fund focused on Jordanian technology startups. The fund secured backing from regional institutional investors, including Abu Dhabi‑based Lunate, and will invest $750k‑$3 million in over 20 growth-stage companies. Manara Ventures aims to accelerate Jordan’s digital economy and support regional expansion.