UAE - Mubasher: ADQ and the Ministry of Digital Economy and Entrepreneurship (MoDEE) of Jordan have established a $100 million technology-focused venture capital fund.
The fund aims to invest in high-growth technology companies and funds, primarily focused on Jordan, according to a recent press release.
To accelerate Jordan's digital economy, the fund will focus on tech start-ups and innovation-led companies specialised in sectors, including information technology, telecommunications, financial services, healthcare, life sciences, and clean energy technologies.
This step is in line with the UAE’s strategic industrial partnership with Jordan and ADQ's objective to support the main sectors of the Kingdom’s economy and enhance the global technology ecosystem.
The Managing Director and CEO of ADQ, Mohamed Hassan Alsuwaidi, said: "Jordan’s dynamic marketplace offers vast investment potential in sectors where we have significant expertise. Moreover, we can serve as a committed partner to support their growth."
Meanwhile, the Minister of Digital Economy and Entrepreneurship, Ahmed Al Hanandeh, commented: "Today’s announcement marks a significant milestone in Jordan’s economic growth, and reflects our focus on partnering with the world’s leading organisations to deliver positive impact and change."
