Tunisia reinforces its commitment to technological innovation by investing $2.5 million in the pan-African venture capital fund “LoftyInc Alpha Fund I”. This initiative, led by the ANAVA fund of funds, financed by Tunisia’s Caisse des Dépôts et Consignations (CDC) and managed by Smart Capital, aims to support African technology startups in the seed phase, thereby strengthening the digital infrastructure across the continent.
The ANAVA fund of funds is a key component of the national “Startup Tunisia” initiative, which aims to position Tunisia as an innovation hub at the intersection of the Mediterranean, the MENA region and Africa. With an initial target size of 100 million euros, and a first closing at 60 million euros, ANAVA is backed by CDC, which subscribed 40 million euros via a World Bank loan, and KFW, which contributed 20 million euros. The fund enables the underlying entities to invest both in Tunisia and abroad, thus meeting the financing and internationalization needs of startups.
TunisianMonitorOnline (NejiMed)
