• Jordan Capital and Investment Fund (JCIF) has launched Manara Ventures, a JOD 50 million ($70.5 million) scale-up fund focused on Jordanian technology and innovation-driven startups.
• The fund secured backing from regional institutional investors, including Abu Dhabi-based investment firm Lunate, and was established in Abu Dhabi Global Market (ADGM) as a fully Sharia-compliant platform.
• The fund plans to invest in more than 20 growth-stage Jordanian technology companies, with cheque sizes ranging from $750,000 to $3 million.
• Manara Ventures also plans to reserve additional capital to support up to 15 high-performing startups pursuing regional expansion opportunities.

Press release:

Jordan Capital and Investment Fund (JCIF) announced the official launch of Manara Ventures, a JOD 50 million (approximately USD 70.5 million) scale-up fund dedicated to supporting the growth of Jordan’s most promising technology- and innovation-focused companies. The fund also secured backing from regional institutional investors, including Abu Dhabi-based global investment firm Lunate. Manara Ventures was established in Abu Dhabi Global Market (ADGM) and structured as a fully Sharia-compliant investment platform.

“The launch of Manara Ventures marks an important milestone in JCIF’s strategy to expand into venture capital and innovation-led investments,” said Hani Qadi, JCIF Chairman. “This initiative is fully aligned with Jordan’s vision of building a knowledge-based, high-value economy driven by entrepreneurship, innovation and private-sector-led growth. We believe Jordan has exceptional entrepreneurial talent, and Manara Ventures will help provide the capital and institutional support needed for these companies to scale.”

Luma Fawaz has been appointed CEO of Manara Ventures. She is widely recognised 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. 

Prior to 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 central 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 Luma Fawaz. “Our ambition is to back exceptional founders and help them scale regionally and globally. Beyond delivering strong financial returns, the fund seeks to catalyse technological advancement, foster innovation and deepen regional 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 will invest in Jordanian technology and technology-enabled companies with strong growth potential, targeting over 20 growth-stage companies, with additional capital reserved to support up to 15 high-performing businesses pursuing regional expansion opportunities. Investments are expected to range from USD 750,000 to USD 3 million, including follow-on funding rounds.

“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,” said Faris Sharaf, JCIF CEO. “Through our partnership with Lunate, we are creating a strong bridge between Jordanian innovation and regional capital while building companies capable of competing and expanding beyond local markets.”