Proparco backs EmergingTech Ventures Fund II
The fund is targeting $60 million to invest in early-stage technology startups in Morocco, Tunisia, Senegal, and Côte d’Ivoire.
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Proparco, through the FISEA fund, has become a cornerstone investor in EmergingTech Ventures Fund II, an early-stage venture capital fund focused on high-potential technology startups operating in Morocco, Tunisia, Senegal, and Côte d’Ivoire.
Managed by EmTech Capital, an independent Moroccan fund management company founded by Meriem Zairi, Abdelouahid Benlamlih, and Sidi Mohammed Zakraoui, the fund is targeting $60 million, with the potential to increase to $80 million. It primarily invests in pre-Series A and Series A startups operating in sectors such as deeptech, fintech, digital services, healthtech, edtech, agritech, and cleantech.
This new commitment aims to build on the momentum generated by EmTech’s first fund, which raised $22 million and was primarily deployed in Morocco.
“We are delighted to support EmTech in launching its second fund, led by an experienced and committed local team. This partnership reflects our ambition to support the next generation of digital entrepreneurs in Francophone Africa, particularly in Morocco, a highly dynamic market, and to contribute to the development of a vibrant and inclusive technology ecosystem, in line with the many public initiatives launched by Morocco,” commented Fabrice Perez, head of the financial institutions and innovation division at Proparco.
“This partnership with Proparco and FISEA represents a major milestone for EmTech and for the Moroccan and African technology ecosystem as a whole. The support of a leading development finance institution validates our investment thesis and strengthens our ability to back the most ambitious entrepreneurs in Francophone Africa. We are proud to build this new chapter alongside partners who share our conviction that Africa is home to a new generation of talented entrepreneurs capable of creating high-impact companies with global reach,” said Meriem Zairi Tlemçani, chief executive officer of EmergingTech Ventures.
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