The Innovative Startups and SMEs Fund (ISSF), the largest investment fund of its kind in Jordan, proudly announces a $5 million investment in Rua Growth I LP, a $45 million venture capital fund. Rua Growth I LP, with a sector focus on Marketplaces, Fintech, Enterprise Solutions, and SaaS, is dedicated to supporting early stage and inflection of growth startups. The Rua Growth Fund has been mandated by ISSF to reinvest the initial $5 million at a multiple in Jordanian startups.
ISSF CEO Mohammed Al Muhtaseb stated, “We are proud to welcome Rua Growth Fund to our portfolio of funds. Their investment thesis and strategy align with our vision for the Jordanian ecosystem. Their unique composition of the GP having both Saudi and Jordanian veteran investment managers embodies the great and historic relationship Jordan and Saudi Arabia enjoy on so many levels. The investment thesis captures the opportunities the Saudi and GCC markets present and capitalises on the unique talent and competitive advantages that Jordan has and unlocks the unlimited potential.”
In turn, Turki Aljoaib, Managing Partner of Rua Growth Fund, commented: We are excited about our strategic partnership with the ISSF, which plays a critical role in fostering innovation and supporting entrepreneurial ventures in Jordan. Through our collaboration, we aim to leverage the strengths of the Jordanian entrepreneurial ecosystem—its skilled workforce and dynamic startups—to bridge the gap between markets in Jordan and Saudi Arabia. Together, we are creating new opportunities for growth, technological advancement, and job creation in Jordan and supporting their expansion in Saudi Arabia and beyond, aligning with our vision to back high-potential and disruptive technological startups that will transform the region.