Cisco Invests $6M in Jordan-Based Badia Impact Fund
Summary
Cisco Systems (NASDAQ: CSCO) made a $6m investment in Jordan-based Badia Impact Fund.The fund, which is also backed by the European Investment Bank, the King Abdullah Fund for Development and Silicon Badia’s parent company Accelerator Technology Holdings, focuses on supporting early-stage companies in online, mobile, health care, e-commerce, consumer Internet and digital media sectors.It also provides support, networks, and capital for entrepreneurs to achieve global impact.According to the website, it has 5 compnies in portfolio: Curlstone Entertainment, dakwak, #hashdoc, Mixed Dimension, and Oasis500 For Cisco, the investment represents the first allocation from the $10m venture capital investment commitment, initially outlined in May 2011, targeted at small businesses that provide innovative products, services and solutions.FinSMEs 14/03/2014
