JCIF Launches $70.5M Manara Ventures Fund to Back Jordanian Tech Companies
Jordan Capital and Investment Fund officially announced the launch of Manara Ventures, a USD 70.5 million scale-up fund dedicated to supporting the growth of Jordan’s most promising technology and innovation-driven companies. The fund also secured backing from regional institutional investors, including Abu Dhabi-based global investment firm Lunate. Manara Ventures was established within Abu Dhabi Global Market as a fully Sharia-compliant investment platform.
Hani Qadi, Chairman of JCIF, said:
“The launch of Manara Ventures marks an important milestone in JCIF’s strategy to expand into venture capital and innovation-led investments.”
He added that the initiative aligns with Jordan’s vision of building a knowledge-based economy driven by entrepreneurship, innovation, and private-sector growth, while providing high-potential startups with the capital and institutional support needed to scale.
The fund also appointed Luma Fawaz as CEO of Manara Ventures. Fawaz is widely recognized as one of Jordan’s leading figures in startup acceleration and venture ecosystem development, bringing more than two decades of experience supporting high-growth entrepreneurs and technology companies.
Before joining Manara Ventures, Fawaz served as CEO of Oasis500, where she oversaw more than 180 early-stage investments and worked closely with over 2,500 entrepreneurs across the region. Throughout her career, she has played a key role in helping technology and media startups evolve from concept stage to investment readiness and scalable growth.
“I am honored to lead Manara Ventures at such an exciting moment for Jordan’s innovation ecosystem,” said Fawaz. “Our ambition is to back exceptional founders and help them scale regionally and globally while fostering innovation and strengthening collaboration across the broader startup ecosystem.”
Manara Ventures aims to accelerate the growth of Jordan’s digital economy, empower high-potential entrepreneurs, and strengthen the Kingdom’s position as a regional hub for innovation and technology. The fund plans to invest in Jordanian technology and technology-enabled companies with strong growth potential, targeting more than 20 growth-stage businesses while reserving additional capital to support up to 15 high-performing companies pursuing regional expansion opportunities. Investments are expected to range between USD 750,000 and USD 3 million, including follow-on funding rounds.
Faris Sharaf, CEO of JCIF, stated:
“Manara Ventures reflects our shared commitment to unlocking the potential of Jordan’s entrepreneurs and supporting innovation across sectors that are critical to the country’s future economic growth.”
He noted that the partnership with Lunate will help bridge Jordanian innovation with regional capital and support companies capable of scaling beyond local markets.
