In a joint effort with Silicon Badia and USAID, the new fund aims to mature the entrepreneurial and investment ecosystem, supporting not only entrepreneurs but also angel investors.
Jordanian new fund BeyondCapital was just launched, in a joint venture between Endeavor Jordan and Silicon Badia, along with a $10 million fund by USAID. Setting off to help mature the entrepreneurial and investment ecosystem, the fund gears up to provide comprehensive support to three main beneficiaries: entrepreneurs, finance Entrepreneurs and Angel Investors.
The launch event, held on November 13th in line with the 10th anniversary of the Global Entrepreneurship Week, gathered key players and decision makers in the entrepreneurial and investment ecosystem in Jordan. By leveraging capital, expertise and access to networks, BeyondCapital sets off to foster a dynamic and open environment, propel job growth, increase equity investments and push through a new pipeline of fast-growing businesses.
The launch event commenced with a welcome note from BeyondCapital Board Member, Ali Al-Husry, who emphasised the urgency for collaboration to maximise the impact of the various support services on economic growth and development. "With BeyondCapital, we aim to closely tackle most of the challenges faced by entrepreneurs be it through improved access to mentors, networks or capital," Al-Husry said. "BeyondCapital will also be addressing the challenges faced by investors stemming mainly from weak infrastructure and lack of training targeted at fund managers and angel investors."
In turn, Acting Deputy Chief of Mission for the U.S. Embassy, Dr. Jim Barnhart, pointed out that "Beyond Capital will improve investor and business access to equity capital, advance the development of the financial system, and encourage increased equity investment in early stage businesses. This will have a significant impact in propelling Jordan’s economic growth.”
Main photo: Courtesy of Endeavor Jordan.
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