A joint initiative between support organization Endeavor Jordan, venture firm Silicon Badia and the USAID, launched BeyondCapital, a new fund during an event that took place in Grand Hyatt hotel, Amman on november 15.
BeyondCapita, will enhance the capabilities of first-time fund managers, provide seed capital to support the establishment of new funds, invest as a limited partner in new and existing funds as well as give them access to its network of limited partners.
The fund aims to support entrepreneurs as well, by giving them access to mentors, markets, capitals and professional services.
The main three goals of BeyondCapital is promoting startups, fund managers and angel investors.
In Jordan, startups face challenges related to launching and reaching an optimal operational capacity, according the press release. On the other hand, investors also face challenges due to a lack of infrastructure and training and also the limited number of investors. BeyondCapital aims to bridge the gaps by first offering entrepreneurs a 2-year support program, including advisory, mentorship and capital; second supporting existing and aspiring finance entrepreneurs through capacity-building programs; third fostering a new generation of angel investors.