Anara Impact Capital, an impact fund backed by KfW Development Bank and Dara Holdings, has announced the first close of its debut fund, securing $48 million (approximately Rs 459 crore) from various limited partners. The fund’s initial close was significantly supported by KfW Development Bank, Germany’s bilateral development finance institution, and Dara Holdings, the family office of Saudi billionaire Lubna Olayan, along with the Innovative Startups and SMEs Fund (ISSF) from Jordan and several regional family offices and high-net-worth individuals.With a target corpus of $50 million, Anara Impact Capital plans to invest in Seed and Series A startups that demonstrate early traction, strong founder-market fit, and a commitment to social impact. The fund will focus on companies that are developing solutions in areas such as learning, wellbeing, financial access, and climate resilience, aiming to achieve both financial returns and measurable impact.The fund is led by Managing Partner Nafez Dakkak, alongside Mohamed Hussain and Nadia Moukaddam, who bring extensive experience in venture capital and impact investing. The Investment Committee is chaired by Fadi Ghandour, a prominent Jordanian entrepreneur and former CEO of Aramex. Dakkak emphasized the fund’s mission to demonstrate that scalable and global solutions can emerge from the region to address pressing challenges, asserting that impact and financial returns can coexist.
