VC firm announces second close of Tunisia fund
Flat6Labs, a regional seed and early stage VC firm, announced the second close, and increase of its Tunisia-based Anava Seed Fund from $3 million to $10 million.
The Anava Seed Fund was launched in 2017 in partnership with the Tunisian American Enterprise Fund, BIAT Bank and Meninx Holding, to invest in 75 Tunisian early-startups in a five-year period.
Sawari Ventures is the latest addition to the investors of the Anava Seed Fund, with an investment amount of $1.6 million. “We are very proud of our investment in the Anava Seed Fund as we have closely followed their progress and are more than convinced that Tunisia has talented entrepreneurs working on promising start-ups,” said Wael Amin, managing partner at Sawari Ventures.
During the last four years, the Anava Seed Fund successfully invested in over 50 startups in Tunisia between seed, follow-on and pre series A tickets, operating in 22 different sectors that vary between fintech, education, agritech, delivery services, retailtech, healthtech and aeronautics.
Ramez El-Serafy, CEO at Flat6Labs, said, “We’re very excited about our latest second close for the Tunisia-based Anava Seed Fund, we believe that the North African markets hold untapped potential and unique business opportunities.”
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