The investment comes as Arzan VC plans to double down on the Jordanian ecosystem.
Kuwait’s Arzan Venture Capital has received a $1 million investment from the Innovative Startups and SMEs Fund (ISSF). The investment underlines ISSF’s commitment to supporting early-stage, youth-led, innovative startups and small and medium-sized enterprises (SMEs), with the funding coming as Arzan VC plans to expand its work within the Jordanian ecosystem.
In addition to offering early-stage financing, the ISSF is advancing Jordan’s entrepreneurial ecosystem with outreach programs for underserved sectors and groups.
Arzan VC Partner Laith Zraikat stated: “Arzan Venture Capital is considered one of the most active funds in Jordan, investing in eight Jordanian companies, in addition to four others outside the Kingdom led by Jordanian entrepreneurs. Today, we plan on doubling down on the Jordanian ecosystem.”
“As such,” he continued, “this ISSF investment has come at the perfect time, in line with the growing number of startups and entrepreneurial projects, the increased demand for establishing a digital economy and the need to create new job opportunities amidst the dynamic transformation the world at large and the region in specific are witnessing on various fronts.”
Arzan VC is one of the earliest venture capital firms to launch in the MENA region. Since 2014, it has been investing in young innovative tech teams with high-growth potential. ISSF’s investment in Arzan VC aims to nurture Jordan’s entrepreneurial space and empower local female and male entrepreneurs.