IFC proposes investment in Moroccan VC fund
IFC proposes investment in Moroccan VC fund
The fund is seeking to raise $60 million with a hard-cap of $80 million.
The International Finance Corporation (IFC) has disclosed a proposed equity investment of up to $4 million in EmergingTech Ventures Fund II (Emtech II), a Moroccan domiciled early-stage VC fund targeting a first closing at $40 million (MAD 400 million). The fund is managed by EmergingTech Ventures SA (Emtech).
Emtech is a limited liability company incorporated under Moroccan law. Emtech was founded by Meriem Zairi, Abdelouahid Benlamlih and Sidi Mohammed Zakraoui.
The fund is seeking to raise $60 million (MAD600 million) with a hard-cap of $80 million (MAD800 million).
Emtech II will focus on investments in companies with current and/or planned future operations in Morocco, Tunisia and Francophone West Africa.
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