Ekuity Capital has joined the shareholder base of New Era Fund I, an early-stage investment fund dedicated to innovative startups in Tunisia.
This move brings the first closing of the fund to €7 million, out of a target size of €15 million.
Alongside existing investors Smart Capital and UGFS North Africa, Ekuity Capital’s entry enhances the fund’s credibility.
The fund targets early-stage and Series A tech startups, with a strategic focus on three high-impact sectors: Artificial Intelligence (AI), Biotechnology (Biotech) and Green Technologies (GreenTech), according to Financial Afrik.
Formerly known as the Tunisian-Kuwaiti Development Consortium (CTKD), Ekuity Capital is a joint venture between the Kuwait Investment Authority (KIA) and the **Tunisian government.
The company manages a portfolio of around 15 businesses and assets exceeding 800 million dinars (approximately $256 million).
New Era Fund I is managed by UGFS-VC, the venture capital arm of United Gulf Financial Services–North Africa (UGFS-NA).
A recognized player in Tunisia’s private equity space, UGFS-NA has structured 20 funds and invested in over 100 startups and SMEs over the past 15 years.
Leveraging its local presence, sectoral expertise, and extensive network, UGFS-VC aims to use New Era Fund I to support a new generation of Tunisian entrepreneurs and accelerate the emergence of regional tech champions.
