Amman, May 19 (Petra) — The Jordan Capital and Investment Fund
(JCIF) on Tuesday announced the official launch of “Manara Ventures”,
a JD50 million (approximately $70.5 million) investment fund
dedicated to supporting the growth of promising Jordanian companies
in technology and innovation.

The newly established fund is registered in the Abu Dhabi Global
Market (ADGM) as a fully Sharia-compliant investment platform. It has
secured backing from regional institutional investors, including Abu
Dhabi-based global investment manager Lunate.

Hani Al-Qadi, JCIF Chairman, stated that the launch of Manara
Ventures represents a major milestone within the fund’s strategy to
expand into venture capital and innovation-driven investments. He
noted that the initiative aligns with Jordan’s vision to build a
high-value-added, knowledge-based economy driven by entrepreneurship,
innovation, and private sector growth.

Al-Qadi added that Jordan possesses exceptional entrepreneurial
talent, and Manara Ventures will help provide the necessary capital
and institutional backing to enable these companies to scale.

Luma Fawaz, Chief Executive Officer of Manara Ventures, explained
that the fund will support outstanding founders and assist them in
expanding regionally and globally. It aims to generate strong
financial returns, accelerate the growth of Jordan’s digital economy,
and solidify the Kingdom’s position as a regional hub for technology.

Fawaz indicated that the fund will target tech-focused or
tech-enabled Jordanian companies with high growth potential. It plans
to invest in more than 20 growth-stage companies while allocating
additional follow-on capital to support up to 15 high-performing
businesses pursuing regional expansion. Individual investments are
expected to range between 750,000 and 3 million US dollars, including
subsequent funding rounds.

Faris Sharaf, JCIF Chief Executive Officer, commented that Manara
Ventures embodies a shared commitment to unlocking the potential of
Jordanian entrepreneurs. He emphasized that the partnership with
Lunate builds a strong bridge connecting Jordanian innovation with
regional capital, helping establish companies capable of competing
beyond their domestic market.

The JCIF stands as the largest private-sector investment fund in
Jordan, boasting a capital exceeding JD275 million (approximately
$388 million). Owned by 16 Jordanian banks, the fund invests in
high-potential companies within strategic sectors of the national
economy by providing growth capital and institutional support to
foster sustainable economic expansion and job creation

//Petra// AF