• ANAVA invested USD 4 million in UGFS-VC New Era Fund I as part of its USD7.5 first close to support Tunisian startups.
• The fund targets Series A startups in AI, biotech, and green tech, addressing Tunisia’s post-seed funding gap.
• ANAVA, a public-private fund backed by global institutions, aims to strengthen Tunisia’s innovation economy through venture capital support.

ANAVA

What happened?  United Gulf Financial Services Venture Capital (UGFS-VC) announces the first close of its early-stage investment fund, New Era Fund I. 

The fund successfully secured approximately USD 7.5 million ( EUR 7M) towards its USD 17 million target (EUR 15M). 

This was significantly supported by ANAVA Fund of Funds investing approximately USD 4 million (EUR 3.5M). This is in reinforcement of its mission to strengthen Tunisia’s startup ecosystem by making catalytic investments in local venture capital funds

Tunisia

What is the fund for? The fund focuses on supporting startups at the Series A stage, particularly in artificial intelligence (AI), biotechnology, and green technologies. In addition, it aims to stimulate investment in Tunisia’s innovation economy. 

The New Era Fund I represents a more focused, thesis-driven capital deployment in high-growth sectors. This is important for startups navigating the post-seed financing gap. Additionally, it also aims to foster innovation and support the development of high-impact startups.

Who are they? ANAVA Fund of Funds is a public-private initiative supported by the World Bank, Germany’s KfW Development Bank, and Tunisia’s Caisse des Dépôts et Consignations (CDC).

UGFS-VC is a Tunis-based asset manager with over 100 startup investments in its portfolio and manages assets worth USD 80 million (TND 240M). Its New Era Fund is a reflection of the growing Tunsian  early-stage tech sector.Moreover, its integrated investment model nurtures startups from inception to scale, focusing on ecosystem engagement and sustainable company-building.