HomeNews"INNOVATECH" Fund to be officially launched on February 23

“INNOVATECH” Fund to be officially launched on February 23

The “INNOVATECH” Fund dedicated to innovative economic growth-enhancing SMEs will be officially launched on February 23 in Tunis.

According to the CMF, the company “SMART CAPITAL” and the “ARAB TUNISIAN BANK” (ATB) secured the approval of the Financial Market Council, dated on July 23, 2021, for the creation of the Specialized Investment Fund , called “INNOVATECH” for an amount of 125,000,000 DINARS (part A) and 12,500 D (part B).

The fund secured the CMF approval on December 21, 2021, therefore becoming the first fund to adopt the form of specialized investment fund (SIF).

With a target size of 125 MD, the Fund will represent a portfolio of 40 to 50 SMEs in the development phase (with more than 2 years of existence). Its minimum ticket amounts to 1 MD (million dinars) and will be able to invest (for files requesting a second round of financing), up to 7 MD, according to SMART CAPITAL.

The Fund will target education, healthcare, fintech, green tech and renewable energy, agritech, manufacturing, ICT and electronics, big data and analytics, media and e-commerce and all the technologies that would foster digital transformation.

The Fund seeks to mobilize private savings so as to promote these target sectors, through co-investment with private sector players, to perfect the financing plans for the projects that will be presented to it.

The specificity of this fund and its contribution will consist in its ability to identify innovative SMEs that are growth drivers, to provide them with technologies allowing them to accelerate their development and prepare an investment to promote their growth.

The purpose of this Fund is to intervene directly on the innovative and technological aspect of Tunisian SMEs to improve their competitiveness both nationally and internationally.

Il est à rappeler que le Projet d’appui aux Startup et PME innovantes a bénéficié d’un financement de la Banque mondiale qui s’élève à 75 M$ dont 17 M$ dédiés au Fonds InnovaTECH et 3 M$ pour l’appui aux PME Innovantes. Ce projet finance également le programme ANAVA de financement et d’appui aux startups.

The Support Project for Startups and Innovative SMEs received funding from the World Bank amounting to $75 million, including $17 million dedicated to the InnovaTECH Fund and $3 million to support Innovative SMEs. This project also funds the ANAVA programme funding and supporting start-ups.

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