Azur Partners lands €7m investment for Morocco fund

The Dutch Good Growth Fund (DGGF) has entered into a partnership with Azur Partners for the creation of the Azur Innovation Fund (AIF). AIF will invest in equity and quasi-equity in innovative high-impact Moroccan start-ups to support them in the development of their projects. DGGF acquired a €7 million stake in AIF.

With an overall size of 350 million dirhams (approx. €33 million) at the time of the first closing, AIF is the largest seed fund in the history of Morocco. AIF is the fruit of a partnership between the management company Azur Partners, DGGF, BAD and KFW on the international side, and CCG, CIH Bank, SAHAM Assurances, BMCE Bank Of Africa and MASEN on the Moroccan side.

With an explicit impact strategy to finance early-stage companies and to create jobs, Azur presents overall a strong alignment with DGGF’s objectives. The fund is expected to finance approximately 20 SMEs. Azur will specifically invest in innovative ‘new economy’ sectors, which are key to the country’s economic diversification.

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