In a joint press conference today in Amman, Jordan, Intel Capital‘s latest investments in the Arab internet scene were announced.
These new investments from Intel Capital are in Jordanian internet companies Jeeran, one of the leading user generated content portals in the Arab world, and ShooFeeTV, a free online Arabic television guide. Both companies are also IV Holdings portfolio companies.
This comes among Intel Capital’s ongoing push in the region, supporting local entrepreneurship in the Middle East and funding companies in the internet and technology sectors through its $50 million Intel Capital Middle East and Turkey Fund, which is aimed to assist the companies in pursuing regional growth and development plans in addition to extending their product offerings.
Under the umbrella of this fund, Intel continues to increase its investment in four key areas: local entrepreneurship, education, digital accessibility and specialized technical competencies, to help promote technology skills, knowledge transfer and jobs creation.
As has become custom for most such investments in the Arab world, the size of these investments has not been disclosed.
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