Tunisia’s Anava fund of funds, run by Smart Capital, has pledged a $5 million investment in the Titan Seed Fund I, which is dedicated to funding deeptech startups in Tunisia.
Launched in 2021 as part of the country’s national initiative, Startup Tunisia, Anava aims to support startups and promote innovation. The Fund aims to make Tunisia a country of innovation and startups at the crossroads of the Mediterranean, the Mena region, and Africa.
According to Anava,the Fund intends to invest an average amount of between €300,000 and €650,000, with the aim of preparing them for a Series A type of fundraising which occurs when the startup has already marketed a product or service that arouses interest and presents development prospects.
Titan Seed Fund I is a $10 million fund that seeks to invest in 20 deeptech 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.
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.
With an amount of €10 million, Titan Seed Fund I seeks to invest in almost twenty Tunisian startups. It represents the first fund in North Africa focused on Deep Tech in the seed phase .