IFC Injects $1mn in Tunisian Anava Seed Fund to Support SMEs

Print
 
Sep 2019
Tunisia, September, 30 2019 - The new investment is part of the $30 million “Startup Catalyst” initiative that supports seed funds in emerging markets.

Tunisian startup accelerator and early-stage fund Anava Seed Fund will receive an equity investment of $1 million from the International Finance Corporation (IFC), the World Bank’s private arm.

Half of the money ($500,000) will be provided by the Women Entrepreneurs Finance Initiative (We-Fi), a program hosted by the World Bank Group which empowers women-led businesses in developing countries. The second half is coming from the IFC

The new investment is part of the $30 million “Startup Catalyst” initiative that supports seed funds in emerging markets. It is expected to increase Anava Seed Fund's capital to $10 million, enabling it to support the growth of at least 100 technology companies over the next few years.

Between 2016 and 2018, Flat6Labs Tunis, the manager of Anava Seed Fund, invested more than TND6 million in 28 innovative African start-ups.



Source : Ecofin Agency
 

Research Analysis Tools

The fund indexes, institution benchmarks and other market information displayed here are all Symbiotics designed analysis tools, created in-house by our analysts and experts. Symbiotics has one of the oldest track records in microfinance investment analysis dating back to the late 1990s; its indexes and benchmarks have been regularly used as markers by investors, asset managers, financial institutions and practitioners. These, as well as several other research products, are available through the Research Account. Click on the link below to find out more.

Learn More