Tunisia: Fund of funds backs Titan Seed Fund I

ANAVA, the fund of funds supported by the World Bank, Caisse des Dépôts et Consignations (CDC) and KFW, will invest €5 million in the Titan Seed Fund I, managed by Medin Fund Management Company.

The Titan Seed Fund I, with a target size of €10 million, will invest in approximately 20 Tunisian startups at the seed stage and will be the first deep tech focused fund in North Africa. The fund plans to invest an average ticket of between €300,000 and €650,000 per startup, with the aim of preparing its portfolio companies to raise a Series A funding round.

ANAVA, managed by Smart Capital, is Tunisia’s first euro-denominated fund of funds.

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