iSME Capital

iSME Capital is a co-fund based in Beirut, Lebanon, that supports early-stage startups and SMEs through equity co-investments, grants, and financing programs aimed at fostering innovation and economic growth. Managed by Kafalat, iSME Capital operates with a $30 million fund, comprising $2.5 million for concept development grants and $25 million allocated for equity co-investments. The fund, backed by the World Bank and the Government of Lebanon, has completed 18 equity investments and provided grant support to 175 startups, additionally backing four angel funds. Program manager Bassel Aoun oversees its initiatives, which prioritize job creation and broader societal impact within the Lebanese innovation ecosystem. Established in 2015, the organization's founders are not publicly disclosed. Its business model centers on matching fund model, receives funding from the Government of Lebanon and the World Bank, then offers grants and co-invests equity in startups.