(Ecofin Agency) – Launched in March 2021, Anava, which contributes to the financing of start-ups and innovative companies in Tunisia, announces a commitment to a sector fund targeting SMEs, particularly from Morocco, Egypt and Tunisia.
Anava, the first Tunisian fund of funds with a regional dimension and targeting investments in a dozen venture capital funds dedicated to the financing of start-ups, announced on Monday, July 11, the realization of a commitment of 5.2 million $ within Badia Impact Squared Fund (Bif2).
The second sector fund of the Silicon Badia group, Bif2 will use this sum to finance start-ups in Egypt, Jordan, Tunisia, Morocco and Lebanon. It received this funding from Anava, as part of its second closing. This vehicle plans to allocate 15% of the total commitments received to Tunisian start-ups.
“This commitment comes at a crucial time for Tunisian start-ups looking for funds and expertise to expand beyond Tunisian borders. It will diversify Anava’s portfolio and achieve broader exposure.”commented Alaya Bettaieb (photo), managing director of Smart Capital, management company of the Anava Fund of Funds.
This second closing of Bif2 comes two years following its initial closing in October 2020. At that time, it had mobilized 40 million euros from a group of investors and international financial institutions to finance technology companies in the Middle East and in North Africa (MENA). Among the start-ups financed is the Tunisian fintech Expensya which, in November 2020, had obtained Series B financing, amounting to $20 million.
The Anava fund of funds, with a target size of 100 million euros, plans to invest over the next few years in more than 13 venture capital funds dedicated to start-ups in the seed and early stage .
Note that at the end of the first half of 2022, Tunisian start-ups raised a total of $8.5 million.
Chamberline MOKO
