Investment Firm UGFS-VC Unveils New Era Fund I, Dedicated to Boosting Tunisia's Tech Startups in Artificial Intelligence, Biotechnology, and Green Technology
In the heart of Tunisia's financial infrastructure, the ANAVA Fund of Funds is making waves in the nation's venture capital ecosystem. Established with a mission to stimulate local venture capital growth, ANAVA invests in specialized venture capital funds instead of directly in startups, thereby amplifying its impact across multiple sectors [3].
The focus of ANAVA's investments, while not exhaustively detailed, is believed to lean towards high-growth, innovation-driven industries. Given the global and regional trends, it is reasonable to infer that sectors such as artificial intelligence, biotechnology, and green technologies are among ANAVA's priorities. These sectors align with Tunisia's strategic focus on digital transformation and sustainable development [3].
The strategic impacts of ANAVA's approach are manifold. By channelling capital into specialized venture funds, ANAVA helps bridge the funding gap for early-stage tech startups, a challenge often faced in Tunisia's developing ecosystem. Furthermore, ANAVA's presence encourages the creation and professionalisation of local venture capital firms, fostering a more mature investment landscape [3].
ANAVA's commitment to sector specialisation is evident in its support for funds focusing on AI, biotech, and green tech. This strategic move positions Tunisia as a regional hub for innovation in these critical future industries. Moreover, ANAVA's collaboration with entities like Smart Capital and participation in international forums raises Tunisia's profile, attracting further foreign investment and partnerships [1][2].
Since its launch, ANAVA has committed over €45 million across 10 venture capital funds, with 7 focusing exclusively on Tunisia. One such fund, 216 Capital Ventures based in Tunis, invests in early-stage startups like eSteps and Proxalys [3].
The ANAVA Fund of Funds, a public-private initiative, has also committed €3.5 million to New Era Fund I. This fund is designed to support Series A technology startups in artificial intelligence, biotechnology, and green technologies [3]. The launch of New Era Fund I represents a strategic shift towards more focused, thesis-driven capital deployment in high-growth sectors.
ANAVA's €3.5 million investment in New Era Fund I aligns with its mission to strengthen Tunisia's startup ecosystem. United Gulf Financial Services Venture Capital (UGFS-VC), the fund manager, recently announced the first close of New Era Fund I, securing €7 million towards its €15 million target [3]. UGFS-VC, a subsidiary of United Gulf Financial Services-North Africa and a recognised pioneer in Tunisia's venture capital space, manages assets worth 240 million Tunisian dinars ($80 million) and has structured 20 funds [3].
New Era Fund I's €15 million target is substantial within the Tunisian and regional context, particularly for startups navigating the post-seed financing gap. ANAVA's portfolio includes other funds like Go Big Partners, Silicon Badia, Janngo Capital, LoftyInc Capital, and funds with strategies and geographic scopes beyond Tunisia [3].
ANAVA's integrated investment model not only provides essential funding but also contributes to building a more robust, internationally connected startup ecosystem. MEDIN Fund Management, which manages the TITAN SEED FUND I, connects North African startups with global markets. ANAVA-backed funds have deployed capital into 45 startups across 12 African countries, showcasing Tunisia's growing role as a regional venture capital hub [3].
Flat6Labs, a prominent seed investor in MENA, recently launched a $95 million fund to support 160 startups across the region. UGFS-VC's integrated investment model nurtures startups from inception to scale, focusing on ecosystem engagement and sustainable company-building [3].
In conclusion, the ANAVA Fund of Funds plays a pivotal role in Tunisia's venture capital ecosystem. By acting as a catalyst for early-stage tech investment, particularly in innovation-driven sectors such as AI, biotech, and green technologies, ANAVA is helping to shape Tunisia's future as a regional hub for technological innovation.
Startup ecosystems in Tunisia receive enhanced support through the ANAVA Fund of Funds, particularly in sectors like artificial intelligence, biotechnology, and green technology. Given ANAVA's focus on high-growth, innovation-driven industries, their investments in venture funds specializing in these areas contribute to strengthening Tunisia's growing reputation as a regional hub for technological innovation.
