2023-12-23 17:50:38
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Al Mada Ventures, the recent venture capital initiative launched by Al Mada Holding Group, is injecting $110 million into the dynamic African start-up ecosystem. The objective of this fund is to close financing gaps, stimulate innovation and promote technological growth across the breadth of the African continent.
Al Mada Holding Group is one of the largest private equity investment funds in Africa, headquartered in Casablanca. This major investment player is actively engaged in the dynamic of South-South cooperation by making investments with a pan-African impact. By evolving into a continental entity, Al Mada pursues the ambition of inclusive growth within the African continent.
Al Mada Ventures, a subsidiary of Al Mada Holding Group, specializes in venture capital with capital of $110 million. As a critical enabler, AMV positions itself as a crucial support for African start-ups, particularly those at the seed and Series A stages, where the need for financing is critical. In this sense, AMV’s desire to create synergies between its Al Mada portfolio and start-ups contributes to a dynamic ecosystem, bringing together experience and vision to shape the future, as indicated by Managing Director Omar Laâlej of AMV.
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It should be noted that the African continent is the only region in the world where venture capital investments recorded a double-digit increase in the third quarter of 2023, contrasting with a 15% decline globally to reach $73 billion, according to the Venture Capital Activity in Africa Q3 2023 report.
In this regard, AMV adopts a sustainable development strategy using exclusively African capital to drive innovation and promote growth across the continent. An approach that aims to strengthen the financial autonomy of African start-ups, thus promoting sustainable and local growth. With an expanding portfolio, AMV aims to support up to 20 companies, with funding tickets ranging from $500,000 to $1 million for seed opportunities, and $2 to $6 million for series opportunities. A and B. The fund also offers the opportunity to deploy up to $8-10 million for follow-on investments in its successful companies.
In the Moroccan context, the launch of AMV is proving to be a powerful catalyst for the country’s evolving ecosystem. The year 2022 was marked by remarkable growth in venture capital financing activity in Morocco, with investment exceeding $126 million in start-ups, a marked advance from the $29 million recorded in 2021. In collaboration with renowned local players such as Outlierz Ventures and UM6P Ventures, AMV plays a key role in placing Morocco on the African venture capital map, paving the way for an era of innovation and sustainable growth.
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