JCIF Launches USD 70.5M Manara Ventures Fund to Back Jordanian Tech Startups

Jordan Capital and Investment Fund (JCIF) has launched Manara Ventures, a USD 70.5 million (JOD 50 million) investment vehicle aimed at plugging a persistent funding gap for Jordanian technology and technology‑enabled startups seeking regional scale. The fund, registered in Abu Dhabi Global Market (ADGM) as a fully Sharia‑compliant investment platform and supported by regional institutional investors including Abu Dhabi‑based Lunate, will target growth‑stage companies with regional expansion ambitions.

"Jordan officially launched Manara Ventures, a USD 70.5 million (JOD 50M) investment fund."

Fund structure and strategy

"The fund plans to invest in more than 20 Jordanian growth-stage companies operating in technology or tech-enabled sectors," the announcement said, and it will reserve additional capital to support up to 15 high‑performing companies pursuing regional expansion.

Manara Ventures is designed as a growth‑stage vehicle intended to address one of Jordan’s ecosystem bottlenecks: access to late early‑stage and growth capital capable of helping startups scale beyond the domestic market. Investment tickets are expected to range between USD 750,000 and USD 3 million, inclusive of follow‑on rounds.

• Size: USD 70.5 million (JOD 50 million)
• Registration: Abu Dhabi Global Market (ADGM), Sharia‑compliant platform
• Anchor/support: regional institutional investors, including Lunate (Abu Dhabi)
• Target: more than 20 Jordanian growth‑stage companies, plus reserve capital for up to 15 high performers
• Ticket size: USD 750,000 to USD 3 million (including follow‑ons)
• Sector emphasis: technology and tech‑enabled businesses (fintech, SaaS, media, digital infrastructure among areas of founder depth)

Context and regional significance

The launch reflects a broader regional trend of Gulf capital moving into MENA venture ecosystems through structured institutional vehicles rather than isolated checks. For Jordanian founders, a dedicated growth‑stage fund anchored by JCIF and registered in ADGM could reduce pressure to relocate operations abroad in order to access regional expansion capital.

The partnership with Abu Dhabi‑based Lunate and the ADGM registration also underscores how Gulf financial centers are increasingly integrated with Levant ecosystems via ADGM‑based fund structures. Manara’s Sharia‑compliant setup is intended to widen the investor base across the region.

Outlook

The immediate questions for Manara Ventures will be executional: where the fund deploys its initial investments, which sectors it prioritizes, and whether it can nurture Jordanian companies into regional category leaders while keeping them anchored in the local innovation ecosystem. Observers will watch for early portfolio companies in fintech, SaaS, media and digital infrastructure—areas where Jordan already has established founder depth—and for evidence that the fund’s follow‑on reserves effectively support cross‑border scaling.

If Manara can deliver meaningful follow‑on capital and regional partnerships, it could materially expand the funding pipeline for Jordanian startups aiming to scale across MENA without abandoning their base of operations.