The Innovative Startups and SMEs Fund (ISSF) is a key participant in the $48 million closing of the "Anara" fund

The "Anara Impact Capital" venture capital fund focuses on investing in and supporting startups with sustainable impact during the Seed and Series A funding stages in the Middle East and North Africa region.

This investment comes as part of the second phase of the ISSF’s activities in the local market, continuing its work to attract regional and global investment funds that can play a significant role in providing funding and supporting the Jordanian entrepreneurship ecosystem, following the successful conclusion of the first phase, which extended until 2025 and during which the fund received the highest performance rating from the World Bank, its main contributor.

This partnership is distinguished by its deep-rooted Jordanian foundation, which ensures the maximization of this investment's impact and returns. Beyond funding, "Anara" enjoys a Jordanian identity, with Jordanians present in its executive management and investment committee, alongside a group of elite Jordanian investors with extensive experience in the venture capital sector. This tight-knit connection and local depth have been practically demonstrated from the start, as the fund directed its first investment toward Jordanian entrepreneurs by participating in a funding round for the "Arab Therapy" platform. All of this gives "Anara" an exceptional competitive advantage and makes it a reliable platform capable of understanding the needs of the local market.

The partnership and investment agreement was signed on behalf of the ISSF by its CEO, Eng. Mohammad Al-Muhtaseb, and on behalf of the "Anara" fund by Managing Partner Nafis Dakkak.

Both parties emphasized the importance of this partnership as a strategic step aimed at connecting local startups with sources of venture capital on the international stage, ensuring a direct flow of funding for promising entrepreneurial projects in the Kingdom and bridging the funding gaps faced by startups in their early stages to help them develop, grow, and expand in the future. It is expected that this partnership will contribute to creating opportunities while aligning with national strategic plans, which include developing innovative solutions in the fields of financial inclusion, water, healthcare, climate change, and education.

CEO of the Innovative Startups and SMEs Fund, Mohammad Al-Muhtaseb, said that the investment in "Anara" embodies the ISSF's strategy of attracting regional partnerships that open new expansion horizons for Jordanian startups. This collaboration also aims to promote sustainable investment and support vital sectors that contribute to creating long-term economic and social value, where developmental impact and commercial returns can achieve added value.

Al-Muhtaseb pointed to the importance of this agreement in supporting profitable and developmental business models that are scalable and financially sustainable, which opens new horizons for sustainable financing for projects with high social value.

Managing Partner at Anara Fund, Nafis Dakkak, said: "Our partnership with the Innovative Startups and SMEs Fund represents a strong boost to our shared vision of empowering a new generation of entrepreneurs in Jordan, where the ISSF is headquartered and where the Anara fund has deep roots. We believe that the Jordanian entrepreneurial ecosystem is rich with exceptional talent capable of innovating practical solutions to societal and economic challenges. This strategic investment comes to provide these startups with the necessary financial and knowledge bridges to enhance their growth and bridge the gaps that hinder their expansion regionally and globally."

The "Anara" fund represents a living model for a new generation of venture capital funds in the Arab world. It demonstrates that capital can be a tool for positive change and solving major generational dilemmas—such as unemployment and climate change—without abandoning the principles of profitability and commercial sustainability.

Anara Impact Capital was launched from Alfanar Venture Philanthropy, which has over 20 years of experience in supporting social enterprises in the Arab world. The fund aims to support founders who are working on solutions to key regional problems and providing services to broad, underserved markets.

The Innovative Startups and SMEs Fund (ISSF) is participating in the first closing round of the "Anara" fund, which reached 48 million US dollars, alongside the German Development Bank (KfW) – representing the German Federal Ministry for Economic Cooperation and Development (BMZ) – and the European Commission, in addition to 'Dara Holding' company and a group of family offices and individual investors in the region.