New fund established by UGFS-VC, named Era Fund I, aims to energize Tunisia's tech entrepreneurs focusing on AI, biotech, and green tech industries.
In a significant move for Tunisia's venture capital landscape, United Gulf Financial Services Venture Capital (UGFS-VC) and ANAVA Fund of Funds are playing pivotal roles in nurturing the growth of the country's innovation economy.
UGFS-VC, a key player in Tunisia's venture capital sphere since 2008, is actively investing in local startups, particularly those focused on technology-driven innovation. The asset management company has over 100 startup investments under its management, supporting sectors like e-commerce, retail, and education with early-stage funding.
Meanwhile, ANAVA Fund of Funds, Tunisia's first euro-denominated Fund of Funds, aims to reach a €100 million target size. As a Fund of Funds, ANAVA pools capital from various institutional investors and strategically allocates it across multiple venture funds, amplifying the ecosystem’s capital availability.
The first close of UGFS-VC's early-stage investment fund, New Era Fund I, has been announced, with ANAVA committing €3.5 million towards the €15 million target. This investment aligns with ANAVA's mission to strengthen Tunisia's startup ecosystem. New Era Fund I is designed to stimulate investment in Tunisia's innovation economy, focusing on artificial intelligence, biotechnology, and green technologies.
UGFS-VC's integrated investment model nurtures startups from inception to scale, while ANAVA's capital commitments are geared toward supporting seed and growth-stage investments. Together, these entities provide critical financial and strategic resources that nurture Tunisia’s emerging tech and innovation sectors.
Since its launch, ANAVA has committed over €45 million across 10 venture capital funds, deploying capital into 45 startups across 12 African countries. UGFS-VC's portfolio includes prominent seed investors like Flat6Labs, which recently launched a $95 million fund to support 160 startups across the MENA region.
Other notable investors active in Tunisia include 216 Capital Ventures, based in Tunis, which invests in early-stage startups like eSteps and Proxalys. MEDIN Fund Management, managing the TITAN SEED FUND I, connects North African startups with global markets.
By anchoring investment into local innovative ventures and venture funds, UGFS-VC and ANAVA contribute to capital availability for early-stage startups, ecosystem development, economic growth, and job creation. These entities are key drivers for sustainable economic development in Tunisia and North Africa.
In summary, the strategic partnership between UGFS-VC and ANAVA is a significant step forward for Tunisia's innovation economy. By supporting tech innovation, clean energy, and digital transformation, these entities are fostering a vibrant innovation economy in Tunisia and North Africa.
- The strategic partnership between UGFS-VC and ANAVA is bolstering Tunisia's startup ecosystem by intentionally investing in local businesses, particularly those centering on technology-driven innovation, such as artificial intelligence, biotechnology, and green technologies.
- In addition to UGFS-VC's active role in funding startups from inception to scale, ANAVA's capital commitments are primarily aimed at supporting seed and growth-stage investments in venture funds across various sectors, including e-commerce, retail, education, and green tech.
- The combined efforts of UGFS-VC, ANAVA, and other venture capital firms, like 216 Capital Ventures, Flat6Labs, and MEDIN Fund Management, are working towards enlarging investor pools for early-stage startups, fostering growth in North Africa's tech and innovation sectors, thereby stimulating economic growth and job creation.
