Tunisia’s Anava fund of funds, run by Smart Capital, announced it pledged a US$5 million investment in the Titan Seed Fund I, which is dedicated to funding deep-tech startups in Tunisia.
Tunisia’s Anava was launched in 2021 as part of the country’s national initiative, Startup Tunisia, to support startups and promote innovation.
Titan Seed Fund I is a $10 million fund that seeks to invest in 20 deep-tech Tunisian startups.
The Fund intends to invest an average amount of between $300,000 and $650,000 in Seed-stage startups, with the aim of preparing them for the Series A stage.
An agreement was signed during a press meeting held by the Caisse des Dépôts et Consignations (CDC) to present the startup support project “Innovative Startups and SMEs, funded by the World Bank, the CDC, and the German development bank “KFW”.
The new fund, Titan Seed Fund I, is managed by the company Medin Fund Management Company, which obtained approval from the CMF in November 2022. The latter was founded by former Communication Technologies and Digital Economy Minister Noomane El Fehri and Investment Capital Manager Ghazi Ben Othman; each holding 39.99% of his capital.
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