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Tunisia: New trust Fund to boost participation of equity companies

Tunisia’s Financial Market Council has recently issued a new prospectus for a new Venture Capital Trust Fund (VCTF) dubbed “VCTF Values Development”.

VCTF which was created as a joint initiative of “Tunisie Valeurs” and “Amen Bank” is presented in five chapters, which present the new Fund and its financial characteristics as well as it disclosing costs related to the Fund’s operations and periodic information.

The Fund which aims at strengthening the participation of equity companies, has a capital of 3 million dinars divided into 3, 000 shares, over a period of 7 years.

“VCTF Values Development” concerns sectors, covered by the Code of Incitement, including agriculture and fisheries, tourism, transport, handicrafts, education and teaching, health, protection of environment, property development and other activities and non-financial services.

With investments lasting from 3 to 7 years, “VCTF Values Development” will invest up to 50% of the amount of liabilities in companies operating in the same industry as it will invest up to 15% of the amounts subscribed in the same company, knowing that the investment unit in a target company is expected to be comprised 200,000 dinars and 450,000 dinars.


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