Fund I of the New Era, initiated by UGFS-VC, is set to stimulate the growth of Tunisia's tech startups in the areas of artificial intelligence, biotechnology, and green technology.
Tunisia's Venture Capital Landscape Thrives with UGFS-VC and ANAVA Fund of Funds
In the heart of Tunisia's growing tech ecosystem, United Gulf Financial Services Venture Capital (UGFS-VC) and ANAVA Fund of Funds are making significant strides, providing smart capital and investment support to startups in innovative sectors.
Founded in 2008, UGFS-VC has established itself as a pioneer in Tunisia's venture capital space, managing assets worth 240 million Tunisian dinars ($80 million). The venture capital firm is active in early-stage investments (Seed to Series A) in Tunisia, with a focus on sectors such as artificial intelligence, which aligns with Tunisia’s growing tech ecosystem. UGFS-VC supports startups working on AI-driven solutions and other high-tech industries, enabling them to scale and innovate, thereby fostering growth in Tunisia’s venture capital market.
On the other hand, ANAVA Fund of Funds, a public-private initiative, aims to reach a €100 million target size. Although there is less direct public information on ANAVA's Tunisian-specific activities, fund of funds generally invest in multiple VC funds to channel larger pools of capital into emerging sectors. This approach increases resources available to startups in strategic areas such as biotechnology and green technologies, helping to build capacity and encourage sustainable innovation in Tunisia.
ANAVA's €3.5 million investment in New Era Fund I, managed by UGFS-VC, aligns with its mission to strengthen Tunisia's startup ecosystem. The New Era Fund I, with a €15 million target, is designed to stimulate investment in Tunisia's innovation economy, focusing on Series A technology startups in artificial intelligence, biotechnology, and green technologies.
UGFS-VC's role in managing New Era Fund I is a testament to its success in structuring 20 funds and nurturing startups from inception to scale with an integrated investment model. The firm has already made over 100 startup investments, including those in eSteps and Proxalys, through 216 Capital Ventures.
Meanwhile, ANAVA's capital commitments are geared towards supporting seed and growth-stage investments, helping startups scale beyond early-stage traction. ANAVA's wide-ranging portfolio, which extends well beyond Tunisia's borders, includes Go Big Partners, Silicon Badia, Janngo Capital, and LoftyInc Capital.
The launch of New Era Fund I represents a strategic shift towards more focused, thesis-driven capital deployment in high-growth sectors. Moreover, ANAVA's Fund of Funds model is intended to address structural funding gaps by channeling public and development finance into professionally managed VC funds. This strategic approach is evident in ANAVA's initial €60 million close, supported by €40 million from CDC Tunisie, funded by a World Bank loan, and €20 million from KfW.
Flat6Labs, a prominent seed investor in MENA, recently launched a $95 million fund to support 160 startups across the region. This move further underscores the growing role of Tunisia as a regional venture capital hub, as evidenced by ANAVA-backed funds, which have deployed capital into 45 startups across 12 African countries.
In conclusion, UGFS-VC and ANAVA Fund of Funds are catalysing Tunisia’s venture capital landscape by fostering innovation, scaling startups, and expanding capital availability in crucial emerging technology areas. Their strategic investments and commitment to high-growth sectors are instrumental in shaping Tunisia's tech ecosystem and positioning the country as a regional hub for venture capital.
- UGFS-VC, which manages assets worth $80 million, is a pioneer in Tunisia's venture capital space, investing in early-stage startups, particularly those focusing on artificial intelligence and other high-tech industries.
- ANAVA Fund of Funds, with a €100 million target, invests in multiple VC funds to channel larger pools of capital into emerging sectors like biotechnology and green technologies, promoting sustainable innovation.
- In the education-and-self-development sector, startups backed by UGFS-VC or ANAVA Fund of Funds could gain valuable resources and knowledge, helping them grow and innovate in business and technology.
- The finance sector also benefits from the work of UGFS-VC and ANAVA Fund of Funds, as they help bridge funding gaps and create new financial opportunities for green tech startups, contributing to Tunisia's growing economy.
