US-based computer server and internet equipment company Cisco Systems has invested $6m in the Badia Impact Fund, as part of its 2011 Venture Capital Commitment to Jordan.
The Badia Impact Fund supports early stage online and mobile innovation, healthcare technologies and services, e-commerce, consumer Internet and digital media services in Jordan and the Middle East. It is managed by Silicon Badia, an Accelerator technology Holdings company, and announced its first close on February 24 with investments from Cisco (as part of its 2011 venture capital commitment to Jordan), European Investment Bank and the King Abdullah Fund for Development.
The Badia Impact Fund has five portfolio companies so far, including Mixed Dimensions (MXD), a technology and tools provider for platform developers, gaming companies and interactive 3D online application developers. According to Alan Chelko, who heads Cisco’s corporate development efforts in CEE, DACH and the Middle East, MXD’s co-founders, Muhannad Taslaq and Baha Abu Nojaim, are “examples of the diverse entrepreneurs Jordan is producing. Born and bred in Jordan and of Palestinian origin, they are graduates of Jordanian universities and active participants in promoting grassroots technology entrepreneurship in Jordan.”