"Tech Startups in the fields of AI, Biotech, and Green Tech in Tunisia receive boost with the introduction of New Era Fund I by UGFS-VC"
Supporting Tunisia's Tech Ecosystem: UGFS-VC and ANAVA Fund of Funds Invest in Innovation
Tunisia's early-stage tech sector is receiving a significant boost with the involvement of United Gulf Financial Services Venture Capital (UGFS-VC) and ANAVA Fund of Funds. These organisations are providing venture capital investments aimed at fostering innovation and entrepreneurship in the country.
Role in Supporting Tunisia’s Early-Stage Tech Sector:
UGFS-VC, a Tunis-based asset manager, acts as a key player in the venture capital scene, focusing on startups in Tunisia. Their investments help startups scale and develop innovative solutions in various tech domains.
ANAVA Fund of Funds, on the other hand, operates by investing in a portfolio of venture capital funds, thereby indirectly supporting a wider range of startups in Tunisia and the region. This approach amplifies capital deployment towards early-stage startups, enabling a diversified support system for emerging tech companies.
Future Plans for Investment in Key Sectors:
Both UGFS-VC and ANAVA have expressed intentions to expand their investment scope into high-impact and emerging technology sectors such as artificial intelligence (AI), biotechnology, and green technologies. These sectors are seen as strategic for Tunisia’s economic diversification and long-term innovation capacity.
Their plans include supporting startups that contribute to sustainable development and leverage advanced technologies, aligning with global trends and Tunisia's push towards a knowledge-based economy.
Notable Investments:
- ANAVA's €3.5 million investment in New Era Fund I aligns with its mission to strengthen Tunisia's startup ecosystem.
- UGFS-VC manages assets worth 240 million Tunisian dinars ($80 million) and has structured 20 funds.
- Since its launch, ANAVA has committed over €45 million across 10 venture capital funds, aiming to invest in at least 13.
- ANAVA-backed funds have deployed capital into 45 startups across 12 African countries, including Nigeria, Egypt, Kenya, and Senegal.
Recent Developments:
- United Gulf Financial Services Venture Capital (UGFS-VC) has announced the first close of its early-stage investment fund, New Era Fund I, securing €7 million toward its €15 million target.
- The TITAN SEED FUND I, managed by MEDIN Fund Management, connects North African startups with global markets.
- Flat6Labs recently launched a $95 million fund to support 160 startups across the MENA region.
While exact investment amounts or timelines have not been detailed in the latest publicly available sources, the growing activity and strategic orientation of funds like UGFS-VC and ANAVA Fund of Funds indicate a strong future commitment to backing Tunisia’s tech ecosystem, especially in cutting-edge fields.
[1] Source: UGFS-VC press release, ANAVA Fund of Funds website, and various news articles. [3] Source: ANAVA Fund of Funds annual report and UGFS-VC's most recent financial statements.
- UGFS-VC focuses on investing in startups within Tunisia's tech sector, aiming to help them scale and develop innovative solutions across various domains, such as technology, education-and-self-development, and finance.
- ANAVA Fund of Funds invests in a range of venture capital funds, amplifying the deployment of capital towards early-stage startups not only in Tunisia but also in the region, including sectors like green tech and venture capital.
- Both UGFS-VC and ANAVA are planning to expand their investment sphere into high-impact sectors like AI, biotechnology, and green technologies, seeking startups that contribute to sustainable development and leverage advanced technologies.
- In line with global trends and Tunisia's push towards a knowledge-based economy, investments made by UGFS-VC and ANAVA in startups have a significant impact on supporting and growing the Tunisian tech ecosystem, with notable investments in Tunisia and other African countries like Nigeria, Egypt, Kenya, and Senegal.
